Several brokerages have updated their recommendations and price targets on shares of Planet Fitness (NYSE: PLNT) in the last few weeks:

• 3/5/2024 – Planet Fitness had its price target raised by analysts at Royal Bank of Canada from $74.00 to $80.00. They now have an “outperform” rating on the stock.
• 2/26/2024 – Planet Fitness had its price target lowered by analysts at JPMorgan Chase & Co. from $75.00 to $72.00. They now have a “neutral” rating on the stock.
• 2/23/2024 – Planet Fitness had its price target lowered by analysts at Morgan Stanley from $83.00 to $79.00. They now have an “overweight” rating on the stock.
• 2/23/2024 – Planet Fitness had its price target lowered by analysts at Stifel Nicolaus from $85.00 to $80.00. They now have a “buy” rating on the stock.
• 2/5/2024 – Planet Fitness had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $62.00 price target on the stock.
• 1/19/2024 – Planet Fitness had its price target raised by analysts at Stifel Nicolaus from $72.00 to $85.00. They now have a “buy” rating on the stock.

Planet Fitness Stock Performance

Planet Fitness stock opened at $60.95 on Friday. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $84.48. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 1.27 and a beta of 1.40. The stock has a fifty day moving average of $68.39 and a two-hundred day moving average of $62.99.

Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same period last year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts forecast that Planet Fitness, Inc. will post 2.49 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in Planet Fitness during the fourth quarter valued at approximately $25,000. Allworth Financial LP grew its position in shares of Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Planet Fitness in the 3rd quarter worth about $27,000. Rockefeller Capital Management L.P. raised its holdings in shares of Planet Fitness by 93.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after buying an additional 220 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness during the 4th quarter valued at $47,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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