Royal Bank Of Canada Cuts Planet Fitness (NYSE:PLNT) Price Target to $85.00

Planet Fitness (NYSE:PLNT) had its price objective trimmed by Royal Bank Of Canada from $120.00 to $85.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also weighed in on PLNT. TD Cowen reissued a “buy” rating on shares of Planet Fitness in a research note on Tuesday, March 10th. Stifel Nicolaus dropped their price objective on Planet Fitness from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Macquarie Infrastructure dropped their price objective on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. Canaccord Genuity Group dropped their price objective on Planet Fitness from $128.00 to $122.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $117.00 price objective on shares of Planet Fitness in a research note on Tuesday, March 10th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.64.

Planet Fitness Stock Performance

PLNT traded down $1.27 during midday trading on Wednesday, hitting $65.40. The stock had a trading volume of 1,531,389 shares, compared to its average volume of 1,239,020. The company has a market cap of $5.23 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.16 and a beta of 1.12. The business has a fifty day moving average of $75.05 and a 200 day moving average of $91.98. Planet Fitness has a 1 year low of $63.41 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $376.26 million during the quarter, compared to analyst estimates of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.Planet Fitness’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, equities research analysts anticipate that Planet Fitness will post 3.38 earnings per share for the current year.

Institutional Trading of Planet Fitness

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cibc World Market Inc. lifted its stake in Planet Fitness by 1.2% in the third quarter. Cibc World Market Inc. now owns 8,607 shares of the company’s stock worth $893,000 after acquiring an additional 98 shares during the period. MML Investors Services LLC lifted its stake in Planet Fitness by 1.3% in the fourth quarter. MML Investors Services LLC now owns 9,811 shares of the company’s stock worth $1,064,000 after acquiring an additional 122 shares during the period. Public Employees Retirement System of Ohio lifted its stake in 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 worth $2,764,000 after acquiring an additional 123 shares during the period. Hantz Financial Services Inc. lifted its stake in Planet Fitness by 51.9% in the third quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after acquiring an additional 138 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in Planet Fitness by 2.8% in the third quarter. Crossmark Global Holdings Inc. now owns 5,963 shares of the company’s stock worth $619,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors 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.