Robert W. Baird Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price objective lowered by equities research analysts at Robert W. Baird from $72.00 to $60.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 41.78% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Planet Fitness in a research report on Monday, September 14th. KeyCorp reaffirmed an “overweight” rating on shares of Planet Fitness in a research report on Friday, September 18th. Zacks Research upgraded Planet Fitness from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Royal Bank Of Canada lowered their price target on Planet Fitness from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Finally, Morgan Stanley boosted their price target on Planet Fitness from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $69.34.

Planet Fitness Stock Up 0.6%

NYSE PLNT opened at $42.32 on Monday. The firm has a market cap of $3.20 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.91 and a beta of 1.05. The company has a 50 day moving average price of $49.56 and a 200 day moving average price of $55.62. Planet Fitness has a 52 week low of $37.03 and a 52 week high of $114.26.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, August 6th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The company had revenue of $365.22 million during the quarter, compared to analysts’ expectations of $356.21 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. Planet Fitness’s revenue for the quarter was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, equities research analysts anticipate that Planet Fitness will post 3.21 earnings per share for the current fiscal year.

Insider Transactions at Planet Fitness

In other news, COO William Bode sold 7,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $51.22, for a total transaction of $358,540.00. Following the sale, the chief operating officer directly owned 32,939 shares of the company’s stock, valued at $1,687,135.58. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Spinelli, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the transaction, the director owned 45,516 shares in the company, valued at $2,243,028.48. This trade represents a 28.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Planet Fitness by 143.7% in the third quarter. Versant Capital Management Inc now owns 1,204 shares of the company’s stock worth $51,000 after purchasing an additional 710 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Planet Fitness by 19.6% during the second quarter. Tidal Investments LLC now owns 60,136 shares of the company’s stock worth $3,137,000 after purchasing an additional 9,848 shares during the period. WINTON GROUP Ltd purchased a new stake in Planet Fitness in the second quarter valued at approximately $590,000. Engineers Gate Manager LP purchased a new stake in Planet Fitness in the second quarter valued at approximately $1,859,000. Finally, Allworth Financial LP increased its holdings in Planet Fitness by 15.5% in the 2nd quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock worth $89,000 after buying an additional 228 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.