Planet Fitness, Inc. (NYSE:PLNT) Receives $114.31 Consensus PT from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $116.5385.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley increased their price target on shares of Planet Fitness from $119.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of Planet Fitness from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th.

Planet Fitness Stock Performance

PLNT opened at $105.78 on Monday. Planet Fitness has a one year low of $87.72 and a one year high of $114.47. The stock has a market capitalization of $8.81 billion, a P/E ratio of 43.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. The business’s 50-day simple moving average is $98.90 and its 200-day simple moving average is $103.05.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The firm had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, equities research analysts forecast that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PLNT. Envestnet Asset Management Inc. lifted its holdings in shares of Planet Fitness by 6.9% during the first quarter. Envestnet Asset Management Inc. now owns 177,333 shares of the company’s stock worth $17,132,000 after purchasing an additional 11,437 shares during the period. State of Michigan Retirement System raised its position in Planet Fitness by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 20,100 shares of the company’s stock worth $1,942,000 after buying an additional 200 shares during the last quarter. Xponance Inc. raised its position in Planet Fitness by 1.1% during the 1st quarter. Xponance Inc. now owns 13,767 shares of the company’s stock worth $1,330,000 after buying an additional 156 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Planet Fitness by 183.4% in the 1st quarter. New York State Common Retirement Fund now owns 127,345 shares of the company’s stock worth $12,303,000 after acquiring an additional 82,415 shares during the period. Finally, Schechter Investment Advisors LLC purchased a new stake in shares of Planet Fitness in the first quarter valued at about $396,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Company Profile

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.