Planet Fitness (NYSE:PLNT) Hits New 1-Year Low – Here’s Why

Planet Fitness, Inc. (NYSE:PLNT) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $73.01 and last traded at $75.40, with a volume of 1498973 shares trading hands. The stock had previously closed at $73.62.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLNT. Royal Bank Of Canada lowered their price objective on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Piper Sandler cut shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a report on Friday, February 27th. Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.93.

Planet Fitness Price Performance

The firm has a market cap of $5.97 billion, a P/E ratio of 28.48, a P/E/G ratio of 1.29 and a beta of 1.25. The company has a fifty day moving average of $89.08 and a 200-day moving average of $98.23.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $376.26 million for the quarter, compared to analysts’ expectations 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 was up 10.5% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. Rockefeller Capital Management L.P. increased its stake in Planet Fitness by 33.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,354 shares of the company’s stock valued at $364,000 after buying an additional 848 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Planet Fitness by 1,886.5% in the 4th quarter. Hsbc Holdings PLC now owns 61,800 shares of the company’s stock worth $6,726,000 after buying an additional 58,689 shares during the last quarter. SHP Wealth Management purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $71,000. Coastline Complete Wealth LLC bought a new position in shares of Planet Fitness in the fourth quarter valued at approximately $2,815,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Planet Fitness by 18.2% in the fourth quarter. Pacer Advisors Inc. now owns 13,073 shares of the company’s stock valued at $1,418,000 after acquiring an additional 2,013 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.