Planet Fitness (NYSE:PLNT) Given New $62.00 Price Target at JPMorgan Chase & Co.

Planet Fitness (NYSE:PLNT) had its price objective raised by JPMorgan Chase & Co. from $60.00 to $62.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on PLNT. Canaccord Genuity Group set a $80.00 price target on shares of Planet Fitness in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Bank of America reiterated a “neutral” rating and issued a $59.00 target price (down from $110.00) on shares of Planet Fitness in a research note on Friday, May 8th. KeyCorp reduced their target price on shares of Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Wells Fargo & Company decreased their price target on shares of Planet Fitness from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $74.71.

Planet Fitness Price Performance

Shares of PLNT stock opened at $51.43 on Thursday. The firm has a 50-day moving average of $52.50 and a 200-day moving average of $74.60. The company has a market cap of $4.09 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.12 and a beta of 1.04. Planet Fitness has a one year low of $37.03 and a one year high of $114.47.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The business had revenue of $337.24 million for 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%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, research analysts expect that Planet Fitness will post 3.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Frances G. Rathke acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $231,050. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Planet Fitness in the fourth quarter worth $108,796,000. Assenagon Asset Management S.A. bought a new stake in shares of Planet Fitness during the 2nd quarter worth $44,399,000. Junto Capital Management LP purchased a new position in Planet Fitness in the third quarter worth $73,603,000. Freestone Grove Partners LP grew its position in Planet Fitness by 149.2% in the third quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock worth $54,768,000 after acquiring an additional 315,941 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in Planet Fitness in the third quarter worth $28,515,000. 95.53% of the stock is owned by institutional investors.

About Planet Fitness

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.