Planet Fitness (NYSE:PLNT) Given New $98.00 Price Target at Deutsche Bank Aktiengesellschaft

Planet Fitness (NYSE:PLNT) had its price objective dropped by Deutsche Bank Aktiengesellschaft from $115.00 to $98.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 19.02% from the company’s previous close.

PLNT has been the topic of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. William Blair restated an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. Canaccord Genuity Group increased their price target on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Stifel Nicolaus set a $105.00 price objective on Planet Fitness in a research note on Tuesday. Finally, TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.58.

Planet Fitness Price Performance

Shares of PLNT opened at $82.34 on Thursday. Planet Fitness has a one year low of $79.18 and a one year high of $114.47. The company has a market cap of $6.86 billion, a P/E ratio of 31.43, a P/E/G ratio of 1.34 and a beta of 1.26. The firm has a 50 day simple moving average of $97.15 and a two-hundred day simple moving average of $100.89.

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

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently modified their holdings of PLNT. T. Rowe Price Investment Management Inc. raised its holdings 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 worth $1,001,848,000 after purchasing an additional 149,503 shares in the last quarter. SRS Investment Management LLC boosted its position in shares of Planet Fitness by 4.5% in the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after buying an additional 212,145 shares in the last quarter. Ninety One UK Ltd increased its holdings in Planet Fitness by 20.0% during the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after acquiring an additional 577,637 shares in the last quarter. Invesco Ltd. raised its position 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 last quarter. Finally, Dorsal Capital Management LP lifted its holdings in shares of Planet Fitness by 7.6% in the second quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock valued at $269,899,000 after purchasing an additional 175,000 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.