Planet Fitness, Inc. (NYSE:PLNT) Receives Average Recommendation of “Moderate Buy” from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $117.2308.

A number of brokerages have issued reports on PLNT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a report on Monday. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, November 14th. Finally, Royal Bank Of Canada boosted their target price on shares of Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 14th.

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently bought and sold shares of the stock. Game Plan Financial Advisors LLC bought a new position in Planet Fitness during the 2nd quarter worth $25,000. Hantz Financial Services Inc. increased its stake in shares of Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after buying an additional 241 shares during the period. Brooklyn Investment Group raised its position in shares of Planet Fitness by 57.8% during the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after acquiring an additional 214 shares during the period. Finally, SJS Investment Consulting Inc. boosted its holdings in Planet Fitness by 6,950.0% in the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after acquiring an additional 417 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $109.23 on Friday. Planet Fitness has a one year low of $87.72 and a one year high of $114.47. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 2.42 and a beta of 1.28. The firm has a 50 day simple moving average of $100.79 and a 200 day simple moving average of $104.15.

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

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.