Planet Fitness (NYSE:PLNT) Releases Earnings Results

Planet Fitness (NYSE:PLNT) announced its quarterly earnings data on Thursday. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08, Zacks reports. The business had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Planet Fitness updated its FY 2025 guidance to 3.000-3.030 EPS.

Planet Fitness Trading Up 2.7%

Shares of Planet Fitness stock traded up $2.80 during trading on Friday, reaching $106.04. The company’s stock had a trading volume of 2,138,259 shares, compared to its average volume of 1,515,808. The company has a 50-day moving average price of $98.66 and a two-hundred day moving average price of $102.78. Planet Fitness has a fifty-two week low of $87.72 and a fifty-two week high of $114.47. The firm has a market cap of $8.93 billion, a PE ratio of 43.28, a P/E/G ratio of 2.37 and a beta of 1.37.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLNT shares. UBS Group started coverage on Planet Fitness in a report on Friday, October 17th. They issued a “buy” rating and a $125.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday, October 8th. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Canaccord Genuity Group increased their price target on shares of Planet Fitness from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.31.

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after buying an additional 214 shares during the period. NewEdge Advisors LLC raised its stake in Planet Fitness by 1,348.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,550 shares of the company’s stock valued at $169,000 after acquiring an additional 1,443 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Planet Fitness during the 2nd quarter worth approximately $218,000. Oxford Asset Management LLP purchased a new position in shares of Planet Fitness in the 2nd quarter valued at approximately $221,000. Finally, Jump Financial LLC acquired a new position in shares of Planet Fitness in the second quarter valued at approximately $267,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.