Planet Fitness (NYSE:PLNT) Cut to Market Perform at William Blair

Planet Fitness (NYSE:PLNT) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Thursday.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company lowered their price objective on Planet Fitness from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on Planet Fitness from $115.00 to $98.00 and set a “hold” rating for the company in a research report on Thursday, February 26th. TD Cowen decreased their target price on Planet Fitness from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Zacks Research downgraded Planet Fitness from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of Planet Fitness from $120.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.27.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $64.07 on Thursday. The stock has a market cap of $5.13 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12. Planet Fitness has a 1 year low of $62.38 and a 1 year high of $114.47. The firm has a fifty day moving average price of $73.99 and a 200-day moving average price of $91.54.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $337.24 million for the quarter, compared to analysts’ expectations of $298.60 million. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. Planet Fitness’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, research analysts expect that Planet Fitness will post 3.38 EPS for the current year.

Institutional Trading of Planet Fitness

A number of large investors have recently made changes to their positions in the business. Future Fund LLC raised its position in shares of Planet Fitness by 27.3% during the 1st quarter. Future Fund LLC now owns 30,396 shares of the company’s stock valued at $2,261,000 after buying an additional 6,526 shares in the last quarter. John G Ullman & Associates Inc. increased its stake in Planet Fitness by 42.3% during the first quarter. John G Ullman & Associates Inc. now owns 17,650 shares of the company’s stock worth $1,313,000 after acquiring an additional 5,250 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Planet Fitness by 4.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 131,189 shares of the company’s stock worth $9,464,000 after acquiring an additional 5,832 shares during the last quarter. Bank of New York Mellon Corp raised its position in Planet Fitness by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 732,411 shares of the company’s stock valued at $54,477,000 after purchasing an additional 13,089 shares during the period. Finally, Katamaran Capital LLP purchased a new stake in Planet Fitness during the first quarter valued at approximately $974,000. 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.