Planet Fitness (NYSE:PLNT) Price Target Cut to $117.00 by Analysts at Morgan Stanley

Planet Fitness (NYSE:PLNT) had its target price lowered by Morgan Stanley from $128.00 to $117.00 in a report published on Thursday,MarketScreener reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also commented on PLNT. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lowered their target price on Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday. Canaccord Genuity Group upped their target price on Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.58.

Planet Fitness Price Performance

Shares of PLNT stock traded down $1.43 during mid-day trading on Thursday, hitting $82.34. The stock had a trading volume of 1,855,267 shares, compared to its average volume of 2,027,774. Planet Fitness has a 12-month low of $79.18 and a 12-month high of $114.47. The firm’s 50-day moving average is $97.15 and its two-hundred day moving average is $100.89. The firm has a market capitalization of $6.86 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 1.34 and a beta of 1.26.

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

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cibc World Market Inc. lifted its position in Planet Fitness by 1.2% during the 3rd quarter. Cibc World Market Inc. now owns 8,607 shares of the company’s stock worth $893,000 after buying an additional 98 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Planet Fitness by 0.5% during the second quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock worth $2,203,000 after acquiring an additional 100 shares during the period. MML Investors Services LLC grew its holdings in shares of Planet Fitness by 1.3% during the fourth quarter. MML Investors Services LLC now owns 9,811 shares of the company’s stock worth $1,064,000 after buying an additional 122 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Planet Fitness by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company’s stock valued at $2,764,000 after purchasing an additional 123 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Planet Fitness by 3.7% during the 2nd quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock worth $405,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Planet Fitness

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.