Royal Bank Of Canada Has Lowered Expectations for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price target reduced by stock analysts at Royal Bank Of Canada from $65.00 to $60.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 41.78% from the company’s current price.

Other analysts also recently issued reports about the company. Raymond James Financial reiterated a “strong-buy” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Friday, August 7th. KeyCorp restated an “overweight” rating on shares of Planet Fitness in a research note on Friday, September 18th. Robert W. Baird lowered their price target on Planet Fitness from $72.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Planet Fitness in a report on Monday, July 20th. Finally, UBS Group reaffirmed an “overweight” rating on shares of Planet Fitness in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.34.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $42.32 on Monday. The firm’s 50 day moving average price is $49.56 and its 200-day moving average price is $55.62. The company has a market cap of $3.20 billion, a PE ratio of 14.35, a P/E/G ratio of 0.91 and a beta of 1.05. 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 quarterly 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. The firm had revenue of $365.22 million for the quarter, compared to analysts’ expectations of $356.21 million. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, analysts forecast that Planet Fitness will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Fitness

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PLNT. Engineers Gate Manager LP bought a new stake in shares of Planet Fitness during the 2nd quarter valued at $1,859,000. Entropy Technologies LP purchased a new stake in shares of Planet Fitness in the 4th quarter worth $2,744,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Planet Fitness in the 2nd quarter worth $1,523,000. Osborne Partners Capital Management LLC raised its holdings in Planet Fitness by 110.6% in the 1st quarter. Osborne Partners Capital Management LLC now owns 152,197 shares of the company’s stock worth $11,320,000 after purchasing an additional 79,915 shares during the period. Finally, WCM Investment Management LLC lifted its position in Planet Fitness by 58.3% during the first quarter. WCM Investment Management LLC now owns 265,134 shares of the company’s stock valued at $19,548,000 after purchasing an additional 97,697 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

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.