Planet Fitness (NYSE:PLNT) Stock Price Up 6.7% – Time to Buy?

Planet Fitness, Inc. (NYSE:PLNT)’s share price rose 6.7% during trading on Monday . The stock traded as high as $55.90 and last traded at $55.89. 295,284 shares traded hands during trading, a decline of 86% from the average daily volume of 2,082,729 shares. The stock had previously closed at $52.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLNT. Cantor Fitzgerald set a $62.00 target price on shares of Planet Fitness in a research note on Thursday, July 9th. Zacks Research raised Planet Fitness from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. William Blair downgraded shares of Planet Fitness from an “outperform” rating to a “market perform” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Stifel Nicolaus lowered their target price on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $74.82.

Planet Fitness Trading Up 5.0%

The company’s 50-day moving average is $51.75 and its two-hundred day moving average is $72.13. The stock has a market capitalization of $4.37 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.14 and a beta of 1.04.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $337.24 million during the quarter, compared to analysts’ expectations of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. Planet Fitness’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Sell-side analysts expect that Planet Fitness, Inc. will post 3.18 EPS for the current fiscal year.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke bought 5,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $231,050. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PLNT. Versant Capital Management Inc raised its stake in shares of Planet Fitness by 285.9% during the second quarter. Versant Capital Management Inc now owns 494 shares of the company’s stock valued at $26,000 after purchasing an additional 366 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Planet Fitness during the 4th quarter worth approximately $27,000. Clearstead Advisors LLC raised its stake in Planet Fitness by 135.9% during the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC raised its stake in Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Planet Fitness in the fourth quarter valued at $41,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.