Planet Fitness (NYSE:PLNT) Stock Rating Lowered by Zacks Research

Planet Fitness (NYSE:PLNT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut their price target on Planet Fitness from $128.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group restated a “buy” rating and issued a $175.00 target price on shares of Planet Fitness in a research report on Tuesday, February 24th. Piper Sandler lowered Planet Fitness from an “overweight” rating to a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on Planet Fitness from $115.00 to $98.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Finally, William Blair restated an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.58.

Planet Fitness Stock Performance

Shares of PLNT opened at $82.92 on Monday. The firm has a fifty day moving average of $95.98 and a 200-day moving average of $100.48. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.25. Planet Fitness has a 1 year low of $79.18 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data 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 business had revenue of $376.26 million for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Analysts predict that Planet Fitness will post 2.51 EPS for the current year.

Institutional Trading of Planet Fitness

Several institutional investors have recently modified their holdings of PLNT. V Square Quantitative Management LLC acquired a new position in Planet Fitness during the fourth quarter worth about $27,000. Hantz Financial Services Inc. lifted its holdings in Planet Fitness by 964.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after acquiring an additional 241 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of Planet Fitness by 135.9% during the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $41,000. 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.