Planet Fitness (NYSE:PLNT) Reaches New 1-Year Low – What’s Next?

Planet Fitness, Inc. (NYSE:PLNT)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $70.32 and last traded at $72.9150, with a volume of 1278275 shares changing hands. The stock had previously closed at $73.29.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several analyst reports. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. Wells Fargo & Company assumed coverage on shares of Planet Fitness in a report on Wednesday, March 11th. They set an “overweight” rating and a $90.00 price target for the company. Morgan Stanley reissued an “overweight” rating and issued a $117.00 price objective on shares of Planet Fitness in a research report on Tuesday, March 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Finally, TD Cowen restated a “buy” rating on shares of Planet Fitness in a research report on Tuesday, March 10th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $117.46.

Planet Fitness Price Performance

The firm’s 50-day moving average is $83.06 and its 200 day moving average is $95.85. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.27 and a beta of 1.31.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The company had revenue of $376.26 million for the quarter, compared to the consensus estimate of $366.48 million. During the same quarter last year, the firm posted $0.70 earnings per share. Planet Fitness’s revenue was up 10.5% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after purchasing an additional 24,981 shares during the period. Empowered Funds LLC purchased a new stake in shares of Planet Fitness during the 1st quarter worth about $1,891,000. Prudential Financial Inc. grew its holdings in shares of Planet Fitness by 13.6% during the 2nd quarter. Prudential Financial Inc. now owns 7,405 shares of the company’s stock worth $808,000 after purchasing an additional 886 shares during the period. Russell Investments Group Ltd. increased its position in Planet Fitness by 4.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,824 shares of the company’s stock worth $1,617,000 after purchasing an additional 631 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Planet Fitness by 694.8% in the second quarter. Hsbc Holdings PLC now owns 22,065 shares of the company’s stock valued at $2,371,000 after buying an additional 19,289 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.