Royal Bank Of Canada Cuts Planet Fitness (NYSE:PLNT) Price Target to $120.00

Planet Fitness (NYSE:PLNT) had its target price decreased by Royal Bank Of Canada from $130.00 to $120.00 in a research report report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. Stifel Nicolaus set a $105.00 price target on Planet Fitness in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group increased their target price on shares of Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.64.

Planet Fitness Stock Down 1.7%

NYSE PLNT opened at $82.34 on Wednesday. Planet Fitness has a 52 week low of $79.18 and a 52 week high of $114.47. The firm has a 50 day moving average of $97.15 and a two-hundred day moving average of $100.89. The stock has a market capitalization of $6.86 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 1.34 and a beta of 1.26.

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

Institutional Trading of Planet Fitness

Several hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in Planet Fitness by 1.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock worth $1,001,848,000 after purchasing an additional 149,503 shares during the period. SRS Investment Management LLC boosted its stake in shares of Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock valued at $529,071,000 after buying an additional 212,145 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Planet Fitness by 20.0% in the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after buying an additional 577,637 shares in the last quarter. Invesco Ltd. grew its holdings in Planet Fitness by 15.0% during the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after acquiring an additional 332,362 shares during the period. Finally, Dorsal Capital Management LP raised its position in Planet Fitness by 7.6% in the second quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock worth $269,899,000 after acquiring an additional 175,000 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Company Profile

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.