Planet Fitness (NYSE:PLNT) Shares Gap Up – Still a Buy?

Planet Fitness, Inc. (NYSE:PLNT)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $40.72, but opened at $41.97. Planet Fitness shares last traded at $41.0230, with a volume of 244,948 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLNT. TD Cowen reiterated a “hold” rating on shares of Planet Fitness in a research report on Friday, May 29th. UBS Group restated an “overweight” rating on shares of Planet Fitness in a report on Friday. Royal Bank Of Canada decreased their target price on Planet Fitness from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Canaccord Genuity Group lifted their target price on Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald set a $62.00 price target on shares of Planet Fitness in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.24.

Planet Fitness Stock Performance

The firm has a market capitalization of $3.13 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The firm has a 50 day moving average price of $51.55 and a two-hundred day moving average price of $57.52.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The company had revenue of $365.22 million for the quarter, compared to analyst estimates of $356.21 million. During the same period in the previous year, the firm earned $0.86 earnings per share. Planet Fitness’s revenue for the quarter was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Equities research analysts forecast that Planet Fitness, Inc. will post 3.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen Spinelli, Jr. acquired 10,000 shares of Planet Fitness stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $49.28 per share, with a total value of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares of the company’s stock, valued at $2,243,028.48. This represents a 28.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher Tanco bought 2,328 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was purchased at an average price of $51.23 per share, with a total value of $119,263.44. Following the completion of the acquisition, the director owned 2,328 shares of the company’s stock, valued at approximately $119,263.44. This trade represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Planet Fitness

Several large investors have recently added to or reduced their stakes in PLNT. Clearstead Advisors LLC grew its holdings in shares of Planet Fitness by 135.9% during the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 193 shares in the last quarter. Versant Capital Management Inc lifted its stake in Planet Fitness by 285.9% in the 2nd quarter. Versant Capital Management Inc now owns 494 shares of the company’s stock worth $26,000 after acquiring an additional 366 shares in the last quarter. SHP Wealth Management purchased a new stake in Planet Fitness in the 4th quarter worth about $71,000. EverSource Wealth Advisors LLC boosted its position in Planet Fitness by 142.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 985 shares of the company’s stock worth $73,000 after acquiring an additional 579 shares during the period. Finally, CoreCap Advisors LLC grew its stake in Planet Fitness by 2,278.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,118 shares of the company’s stock valued at $58,000 after acquiring an additional 1,071 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. Its clubs provide access to cardiovascular and strength-training equipment, free weights, locker rooms, and other basic fitness amenities in a low-cost, welcoming environment designed to appeal to a broad range of consumers.

The company is known for its “Judgement Free Zone” concept, which emphasizes an approachable atmosphere for first-time, casual, and experienced gym users.