Planet Fitness (NYSE:PLNT) Shares Down 6.9% – What’s Next?

by · The Cerbat Gem

Shares of Planet Fitness, Inc. (NYSE:PLNT – Get Free Report) fell 6.9% during mid-day trading on Monday . The company traded as low as $99.13 and last traded at $99.44. 2,617,265 shares changed hands during trading, an increase of 28% from the average session volume of 2,040,313 shares. The stock had previously closed at $106.85.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Planet Fitness from $119.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Macquarie increased their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Planet Fitness in a report on Tuesday, December 9th. Stifel Nicolaus upped their price target on Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.67.

View Our Latest Stock Report on Planet Fitness

Planet Fitness Trading Down 5.8%

The stock has a fifty day simple moving average of $107.32 and a two-hundred day simple moving average of $104.85. The company has a market cap of $8.38 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The company had revenue of $330.35 million during the quarter, compared to analysts’ expectations of $323.95 million. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Planet Fitness in the second quarter valued at about $116,175,000. Ninety One UK Ltd lifted its position in shares of Planet Fitness by 35.7% in the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock worth $314,490,000 after buying an additional 759,227 shares during the last quarter. Junto Capital Management LP bought a new position in Planet Fitness in the third quarter worth about $73,603,000. Squarepoint Ops LLC increased its position in Planet Fitness by 152.8% in the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after buying an additional 514,876 shares during the period. Finally, AustralianSuper Pty Ltd bought a new stake in Planet Fitness in the 2nd quarter valued at about $41,428,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

(Get Free Report)

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.

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