Planet Fitness (NYSE:PLNT) Hits New 52-Week Low – Time to Sell?

Planet Fitness, Inc. (NYSE:PLNT)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $68.89 and last traded at $69.7060, with a volume of 234914 shares traded. The stock had previously closed at $71.18.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada dropped their target price on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. TD Cowen reissued a “buy” rating on shares of Planet Fitness in a research report on Tuesday, March 10th. Canaccord Genuity Group lowered their price target on shares of Planet Fitness from $128.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Macquarie Infrastructure lowered their price target on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Finally, KeyCorp started coverage on shares of Planet Fitness in a research report on Thursday, March 12th. They set an “overweight” rating and a $100.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.08.

Planet Fitness Stock Performance

The company has a market capitalization of $5.51 billion, a PE ratio of 26.30, a PEG ratio of 1.25 and a beta of 1.31. The business’s 50-day moving average is $77.99 and its 200-day moving average is $93.17.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The company had revenue of $376.26 million during the quarter, compared to analysts’ expectations of $366.48 million. During the same period last year, the company posted $0.70 EPS. Planet Fitness’s revenue was up 10.5% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Analysts expect that Planet Fitness, Inc. will post 3.38 EPS for the current year.

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. increased its stake in Planet Fitness by 101.0% during the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock valued at $3,058,000 after purchasing an additional 14,805 shares in the last quarter. Federated Hermes Inc. increased its stake in Planet Fitness by 21.0% during the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after purchasing an additional 130,687 shares in the last quarter. Pelham Capital Ltd. bought a new stake in Planet Fitness during the 3rd quarter valued at about $12,841,000. Burney Co. bought a new stake in Planet Fitness during the 4th quarter valued at about $2,221,000. Finally, Impax Asset Management Group plc increased its stake in Planet Fitness by 22.0% during the 3rd quarter. Impax Asset Management Group plc now owns 194,271 shares of the company’s stock valued at $20,165,000 after purchasing an additional 35,000 shares in the last quarter. 95.53% of the stock is currently owned by 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.