Planet Fitness, Inc. (NYSE:PLNT) Receives $123.18 Average Target Price from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus recommendation of “Buy” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $123.1818.

PLNT has been the subject of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $135.00 price objective on shares of Planet Fitness in a report on Tuesday, December 9th. UBS Group reissued a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Morgan Stanley boosted their target price on Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, Stifel Nicolaus raised their price target on Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Planet Fitness during the fourth quarter worth $2,611,000. M&T Bank Corp increased its holdings in Planet Fitness by 84.7% during the 4th quarter. M&T Bank Corp now owns 6,270 shares of the company’s stock worth $680,000 after purchasing an additional 2,875 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Planet Fitness by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,055 shares of the company’s stock valued at $2,718,000 after purchasing an additional 968 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Planet Fitness in the fourth quarter valued at about $118,000. Finally, Ninety One North America Inc. bought a new stake in shares of Planet Fitness in the fourth quarter valued at about $3,918,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Performance

PLNT opened at $91.59 on Friday. The company has a fifty day moving average price of $105.87 and a two-hundred day moving average price of $103.94. The firm has a market capitalization of $7.63 billion, a PE ratio of 37.38, a P/E/G ratio of 1.56 and a beta of 1.27. Planet Fitness has a 52 week low of $87.72 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.08. The business had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The firm’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Equities analysts forecast that Planet Fitness will post 2.51 EPS for the current year.

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.