Planet Fitness (NYSE:PLNT) Hits New 52-Week Low – What’s Next?

Planet Fitness, Inc. (NYSE:PLNT) shares reached a new 52-week low on Monday . The stock traded as low as $72.95 and last traded at $72.9870, with a volume of 523645 shares changing hands. The stock had previously closed at $73.80.

Analyst Upgrades and Downgrades

PLNT has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Piper Sandler lowered shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a research note on Friday, February 27th. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday, March 18th. Finally, Stifel Nicolaus set a $105.00 price objective on Planet Fitness in a research note on Tuesday, February 24th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.93.

Planet Fitness Stock Performance

The firm has a market capitalization of $5.91 billion, a P/E ratio of 28.18, a PEG ratio of 1.28 and a beta of 1.25. The stock has a 50 day moving average of $85.39 and a 200-day moving average of $96.83.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $376.26 million during 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%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLNT. Norges Bank purchased a new stake in shares of Planet Fitness in the second quarter worth $116,175,000. Junto Capital Management LP purchased a new position in Planet Fitness during the third quarter worth about $73,603,000. Ninety One UK Ltd grew its position in Planet Fitness by 20.0% during the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock worth $359,308,000 after buying an additional 577,637 shares in the last quarter. Squarepoint Ops LLC increased its stake in Planet Fitness by 152.8% in the 2nd quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after acquiring an additional 514,876 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Planet Fitness by 15.0% in the 2nd 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. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.