Planet Fitness (NYSE:PLNT) Sets New 1-Year Low – Time to Sell?

Planet Fitness, Inc. (NYSE:PLNT)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $73.01 and last traded at $75.40, with a volume of 1498973 shares traded. The stock had previously closed at $73.62.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. KeyCorp assumed coverage on shares of Planet Fitness in a research report on Thursday, March 12th. They set an “overweight” rating and a $100.00 price target on the stock. Piper Sandler lowered shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a report on Friday, February 27th. Royal Bank Of Canada cut their price objective on Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Finally, Canaccord Genuity Group increased their target price on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.93.

Planet Fitness Trading Up 2.4%

The company has a market capitalization of $6.03 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25. The company’s 50 day moving average is $90.31 and its 200-day moving average is $98.62.

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

Institutional Trading of Planet Fitness

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