Planet Fitness (NYSE:PLNT) Reaches New 52-Week Low – Here’s What Happened

Planet Fitness, Inc. (NYSE:PLNT)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $69.10 and last traded at $69.9540, with a volume of 24941 shares traded. The stock had previously closed at $70.40.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $117.00 price target on shares of Planet Fitness in a research note on Tuesday, March 10th. Macquarie Infrastructure decreased their price target on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, March 18th. TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a research note on Tuesday, March 10th. Finally, KeyCorp assumed coverage on shares of Planet Fitness in a research note on Thursday, March 12th. They issued an “overweight” rating and a $100.00 price target for the company. Three research 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 stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.08.

Planet Fitness Trading Down 1.5%

The firm has a market capitalization of $5.55 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31. The business’s 50 day simple moving average is $81.15 and its two-hundred day simple moving average is $94.86.

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, beating analysts’ consensus estimates of $0.79 by $0.04. The business 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%. Planet Fitness’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. 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

A number of institutional investors have recently made changes to their positions in PLNT. Norges Bank purchased a new stake in shares of Planet Fitness during the 4th quarter valued at about $108,796,000. Junto Capital Management LP purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at about $73,603,000. Ninety One UK Ltd boosted its holdings in shares of 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 during the last quarter. Freestone Grove Partners LP boosted its holdings in shares of Planet Fitness by 149.2% during the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock valued at $54,768,000 after acquiring an additional 315,941 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at about $28,515,000. 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.