Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $123.18

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received an average recommendation of “Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $123.1818.

A number of research analysts recently issued reports on PLNT shares. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. upped their price target on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, January 16th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Finally, Stifel Nicolaus increased their target price on shares of Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 14th.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently modified their holdings of the stock. Game Plan Financial Advisors LLC bought a new stake in Planet Fitness during the second quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in Planet Fitness in the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. increased its position in shares of Planet Fitness by 964.0% during 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 last quarter. EverSource Wealth Advisors LLC raised 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 worth $36,000 after purchasing an additional 214 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in shares of Planet Fitness by 6,950.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after purchasing an additional 417 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Down 1.2%

PLNT opened at $93.31 on Friday. The stock has a market capitalization of $7.77 billion, a P/E ratio of 38.09, a P/E/G ratio of 1.59 and a beta of 1.27. Planet Fitness has a 12 month low of $87.72 and a 12 month high of $114.47. The firm’s fifty day simple moving average is $106.34 and its 200 day simple moving average is $104.15.

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