Morgan Stanley Cuts Planet Fitness (NYSE:PLNT) Price Target to $117.00

Planet Fitness (NYSE:PLNT) had its price objective decreased by stock analysts at Morgan Stanley from $128.00 to $117.00 in a research note issued on Thursday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 42.10% from the company’s current price.

A number of other equities research analysts have also recently issued reports on PLNT. Stifel Nicolaus set a $105.00 price objective on Planet Fitness in a research note on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Planet Fitness from $115.00 to $98.00 and set a “hold” rating for the company in a report on Thursday. Macquarie Infrastructure cut their price objective on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.58.

Planet Fitness Stock Down 1.7%

PLNT opened at $82.34 on Thursday. Planet Fitness has a 12-month low of $79.18 and a 12-month high of $114.47. The stock’s 50 day moving average price is $97.15 and its two-hundred day moving average price is $100.89. The firm has a market capitalization of $6.86 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 1.34 and a beta of 1.26.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data 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 firm 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%.The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Trading of Planet Fitness

Several hedge funds have recently made changes to their positions in PLNT. T. Rowe Price Investment Management Inc. raised its stake in shares of Planet Fitness by 1.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock valued at $1,001,848,000 after purchasing an additional 149,503 shares during the period. SRS Investment Management LLC raised its position in shares of Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after buying an additional 212,145 shares in the last quarter. Ninety One UK Ltd increased its stake in Planet Fitness by 20.0% in the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock worth $359,308,000 after acquiring an additional 577,637 shares during the last quarter. Invesco Ltd. grew its stake in Planet Fitness by 15.0% in the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after buying an additional 332,362 shares in the last quarter. Finally, Dorsal Capital Management LP boosted its holdings in shares of Planet Fitness by 7.6% in the 2nd quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock worth $269,899,000 after purchasing an additional 175,000 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

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.