Planet Fitness (NYSE:PLNT) Shares Gap Up – Here’s Why

Shares of Planet Fitness, Inc. (NYSE:PLNT) gapped up before the market opened on Friday. The stock had previously closed at $40.72, but opened at $41.97. Planet Fitness shares last traded at $41.0230, with a volume of 244,948 shares traded.

Wall Street Analysts Forecast Growth

PLNT has been the topic of several research reports. Royal Bank Of Canada dropped their price objective on shares of Planet Fitness from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Jefferies Financial Group set a $106.00 target price on shares of Planet Fitness in a research note on Thursday, August 6th. Raymond James Financial restated a “strong-buy” rating and set a $62.00 price target on shares of Planet Fitness in a report on Friday, August 7th. UBS Group reaffirmed an “overweight” rating on shares of Planet Fitness in a research note on Friday. Finally, Morgan Stanley increased their price objective on Planet Fitness from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus price target of $70.24.

Planet Fitness Stock Performance

The company has a 50 day moving average of $51.55 and a 200 day moving average of $57.52. The firm has a market cap of $3.13 billion, a P/E ratio of 14.05, a PEG ratio of 0.92 and a beta of 1.01.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.03. The firm had revenue of $365.22 million for the quarter, compared to analyst estimates of $356.21 million. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, analysts expect that Planet Fitness, Inc. will post 3.21 EPS for the current fiscal year.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Stephen Spinelli, Jr. acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the acquisition, the director owned 45,516 shares of the company’s stock, valued at approximately $2,243,028.48. This trade represents a 28.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christopher Tanco acquired 2,328 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average price of $51.23 per share, with a total value of $119,263.44. Following the completion of the acquisition, the director directly owned 2,328 shares of the company’s stock, valued at $119,263.44. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 valued at $1,001,848,000 after acquiring an additional 149,503 shares during the last quarter. Geode Capital Management LLC grew its holdings in Planet Fitness by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company’s stock valued at $179,924,000 after purchasing an additional 26,575 shares during the last quarter. Norges Bank acquired a new position in Planet Fitness during the fourth quarter valued at approximately $108,796,000. Dimensional Fund Advisors LP raised its position in shares of Planet Fitness by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company’s stock valued at $92,091,000 after purchasing an additional 21,914 shares during the period. Finally, Van Berkom & Associates Inc. raised its position in shares of Planet Fitness by 21.1% in the first quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company’s stock valued at $73,697,000 after purchasing an additional 172,586 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. Its clubs provide access to cardiovascular and strength-training equipment, free weights, locker rooms, and other basic fitness amenities in a low-cost, welcoming environment designed to appeal to a broad range of consumers.

The company is known for its “Judgement Free Zone” concept, which emphasizes an approachable atmosphere for first-time, casual, and experienced gym users.