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

Planet Fitness (NYSE:PLNT) had its price objective reduced by Macquarie from $112.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Planet Fitness in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Planet Fitness in a report on Wednesday, January 14th. Stifel Nicolaus upped their price objective on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Morgan Stanley lifted 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. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, 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 $90.99 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 $7.58 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The firm’s fifty day moving average price is $105.23 and its 200-day moving average price is $103.67.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $323.95 million. During the same quarter in the prior year, the firm 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. On average, analysts predict that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLNT. Game Plan Financial Advisors LLC purchased a new stake in Planet Fitness in the 2nd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Planet Fitness during the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. lifted its stake in Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after acquiring an additional 241 shares during the period. EverSource Wealth Advisors LLC lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.