Planet Fitness (NYSE:PLNT) Price Target Cut to $90.00 by Analysts at TD Cowen

Planet Fitness (NYSE:PLNT) had its price objective reduced by TD Cowen from $100.00 to $90.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

PLNT has been the topic of several other research reports. Zacks Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Planet Fitness from $115.00 to $98.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Stifel Nicolaus dropped their target price on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Canaccord Genuity Group dropped their target price on shares of Planet Fitness from $128.00 to $122.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $117.00 target price on shares of Planet Fitness in a research report on Tuesday, March 10th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.64.

Planet Fitness Stock Performance

PLNT stock opened at $64.10 on Wednesday. The company has a market capitalization of $5.13 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31. Planet Fitness has a 52-week low of $63.41 and a 52-week high of $114.47. The business has a 50-day simple moving average of $75.54 and a two-hundred day simple moving average of $92.16.

Planet Fitness (NYSE:PLNT) last released 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. The business had revenue of $376.26 million during the quarter, compared to the consensus estimate of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, sell-side analysts forecast that Planet Fitness will post 3.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $27,000. Clearstead Advisors LLC raised its holdings in shares of Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Planet Fitness by 184.5% in 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 during the period. Los Angeles Capital Management LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $41,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Planet Fitness by 51.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after purchasing an additional 138 shares during the period. 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.