Planet Fitness (NYSE:PLNT) Price Target Cut to $60.00 by Analysts at Robert W. Baird

Planet Fitness (NYSE:PLNT) had its price target lowered by Robert W. Baird from $72.00 to $60.00 in a report published on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Zacks Research upgraded shares of Planet Fitness from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. UBS Group reaffirmed an “overweight” rating on shares of Planet Fitness in a research note on Friday, September 25th. KeyCorp reiterated an “overweight” rating on shares of Planet Fitness in a report on Friday, September 18th. Finally, Canaccord Genuity Group boosted their price objective on shares of Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.34.

Planet Fitness Trading Down 0.8%

Planet Fitness stock opened at $42.09 on Monday. The company has a market capitalization of $3.18 billion, a PE ratio of 14.27, a P/E/G ratio of 0.91 and a beta of 1.05. Planet Fitness has a 12 month low of $37.03 and a 12 month high of $114.26. The stock has a 50-day moving average price of $49.83 and a two-hundred day moving average price of $55.85.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.03. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The company had revenue of $365.22 million for the quarter, compared to analysts’ expectations of $356.21 million. During the same period in the previous year, the business posted $0.86 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, analysts predict that Planet Fitness will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other news, COO William Bode sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $51.22, for a total transaction of $358,540.00. Following the transaction, the chief operating officer directly owned 32,939 shares of the company’s stock, valued at $1,687,135.58. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher Tanco bought 2,328 shares of the stock in a transaction dated Monday, September 14th. The shares were purchased at an average cost of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the transaction, the director directly owned 2,328 shares of the company’s stock, valued at $119,263.44. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.90% of the company’s stock.

Institutional Trading of Planet Fitness

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in Planet Fitness by 143.7% during the third quarter. Versant Capital Management Inc now owns 1,204 shares of the company’s stock worth $51,000 after buying an additional 710 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Planet Fitness by 19.6% in the second quarter. Tidal Investments LLC now owns 60,136 shares of the company’s stock valued at $3,137,000 after buying an additional 9,848 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Planet Fitness during the second quarter valued at about $590,000. Engineers Gate Manager LP acquired a new position in shares of Planet Fitness during the second quarter valued at about $1,859,000. Finally, Allworth Financial LP increased its position in shares of Planet Fitness by 15.5% during the second quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock worth $89,000 after acquiring an additional 228 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc (NYSE: PLNT) is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.