Planet Fitness (NYSE:PLNT) Price Target Lowered to $100.00 at Macquarie

Planet Fitness (NYSE:PLNT) had its target price decreased by Macquarie from $112.00 to $100.00 in a report published on Thursday morning,Benzinga reports. Macquarie currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Morgan Stanley upped their target price on shares of Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $135.00 price objective on shares of Planet Fitness in a research report on Tuesday, December 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Buy” and a consensus target price of $122.27.

Planet Fitness Stock Performance

Planet Fitness stock opened at $91.72 on Thursday. Planet Fitness has a fifty-two week low of $87.72 and a fifty-two week high of $114.47. The stock has a market cap of $7.64 billion, a P/E ratio of 37.44, a PEG ratio of 1.53 and a beta of 1.27. The firm’s fifty day moving average price is $105.60 and its 200-day moving average price is $103.85.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business had revenue of $330.35 million during the quarter, compared to analysts’ expectations of $323.95 million. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’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. Sell-side analysts predict that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLNT. Goldman Sachs Group Inc. boosted its position in Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after buying an additional 24,981 shares during the period. Empowered Funds LLC bought a new position in shares of Planet Fitness during the first quarter valued at about $1,891,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Planet Fitness by 23.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,816 shares of the company’s stock worth $411,000 after purchasing an additional 721 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Planet Fitness by 48.7% in the second quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock worth $84,000 after purchasing an additional 253 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Planet Fitness in the second quarter worth about $483,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.