Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of “Moderate Buy” from Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $119.9231.

Several analysts have commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Canaccord Genuity Group increased their price objective on shares of Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 17th. Royal Bank Of Canada restated an “outperform” rating and set a $135.00 price target on shares of Planet Fitness in a research report on Tuesday, December 9th. Morgan Stanley lifted their price objective on Planet Fitness from $119.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Finally, UBS Group assumed coverage on Planet Fitness in a report on Friday, October 17th. They set a “buy” rating and a $125.00 target price for the company.

Planet Fitness Stock Performance

PLNT stock opened at $109.70 on Tuesday. Planet Fitness has a one year low of $87.72 and a one year high of $114.47. The firm’s fifty day moving average is $105.83 and its 200 day moving average is $104.99. The firm has a market cap of $9.14 billion, a PE ratio of 44.78, a P/E/G ratio of 2.10 and a beta of 1.27.

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

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cibc World Market Inc. raised its position in shares of Planet Fitness by 1.2% in the third quarter. Cibc World Market Inc. now owns 8,607 shares of the company’s stock valued at $893,000 after buying an additional 98 shares during the last quarter. State of Michigan Retirement System lifted its stake in Planet Fitness by 0.5% in the 2nd quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock worth $2,203,000 after purchasing an additional 100 shares in the last quarter. Emerald Advisers LLC boosted its holdings in shares of Planet Fitness by 1.9% during the 2nd quarter. Emerald Advisers LLC now owns 5,572 shares of the company’s stock worth $608,000 after purchasing an additional 104 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Planet Fitness by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company’s stock valued at $2,764,000 after purchasing an additional 123 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Planet Fitness by 3.7% in the second quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock valued at $405,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.