Planet Fitness, Inc. (NYSE:PLNT) Receives Consensus Rating of “Buy” from Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has been given a consensus rating of “Buy” by the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $123.1818.

Several brokerages recently issued reports on PLNT. Canaccord Genuity Group upped their target price on shares of Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price target on Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Guggenheim raised Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th.

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds have recently made changes to their positions in PLNT. Game Plan Financial Advisors LLC purchased a new position in Planet Fitness during the 2nd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Planet Fitness in the 4th quarter worth about $27,000. Hantz Financial Services Inc. lifted its position in shares of Planet Fitness by 964.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of 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 in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Planet Fitness by 6,950.0% during the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after buying an additional 417 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

Shares of PLNT opened at $94.34 on Friday. The firm’s 50 day simple moving average is $106.52 and its 200 day simple moving average is $104.28. The company has a market capitalization of $7.86 billion, a P/E ratio of 38.51, a P/E/G ratio of 1.64 and a beta of 1.27. Planet Fitness has a 1-year low of $87.72 and a 1-year high of $114.47.

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

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.