Planet Fitness (NYSE:PLNT – Free Report) had its price objective upped by KeyCorp from $65.00 to $68.00 in a research report released on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.
Other research analysts also recently issued reports about the company. Jefferies Financial Group set a $106.00 price target on Planet Fitness in a report on Thursday, August 6th. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, October 9th. Raymond James Financial reiterated a “strong-buy” rating and issued a $72.00 price objective on shares of Planet Fitness in a report on Thursday. Zacks Research raised Planet Fitness from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Robert W. Baird lowered their target price on shares of Planet Fitness from $72.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $71.29.
Read Our Latest Analysis on Planet Fitness
Planet Fitness Stock Up 0.5%
Planet Fitness stock traded up $0.27 during trading hours on Friday, hitting $60.34. The stock had a trading volume of 2,028,573 shares, compared to its average volume of 1,873,862. The stock has a market capitalization of $4.56 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. Planet Fitness has a 12-month low of $37.03 and a 12-month high of $114.26. The stock’s 50-day moving average price is $49.22 and its 200-day moving average price is $61.34.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The firm had revenue of $359.98 million for the quarter, compared to analysts’ expectations of $348.34 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts expect that Planet Fitness will post 3.22 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Stephen Spinelli, Jr. purchased 10,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $49.28 per share, with a total value 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 legal filing with the SEC, which is accessible through the SEC website. Also, COO William Bode sold 7,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $51.22, for a total value of $358,540.00. Following the completion of the sale, the chief operating officer owned 32,939 shares of the company’s stock, valued at approximately $1,687,135.58. The trade was a 17.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.90% of the company’s stock.
Institutional Investors Weigh In On Planet Fitness
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in Planet Fitness during the second quarter valued at approximately $44,399,000. Russell Investments Group Ltd. boosted its holdings in Planet Fitness by 1,411.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 473,099 shares of the company’s stock worth $19,974,000 after buying an additional 441,793 shares during the period. Leeward Investments LLC MA purchased a new stake in Planet Fitness in the 3rd quarter worth $10,558,000. Montanova Capital LLC purchased a new stake in Planet Fitness in the 2nd quarter worth $11,473,000. Finally, Van Berkom & Associates Inc. increased its stake in Planet Fitness by 21.1% in the 1st quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company’s stock worth $73,697,000 after buying an additional 172,586 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.
Planet Fitness News Summary
Here are the key news stories impacting Planet Fitness this week:
- Positive Sentiment: Third-quarter revenue rose 9% year over year to about $360 million, topping estimates of $348 million, while earnings of $0.83 per share also beat expectations. The company raised its 2026 forecast, adding to the upbeat results. Planet Fitness third-quarter results
- Positive Sentiment: Planet Fitness authorized a new $500 million share repurchase program and said it repurchased and retired $50 million of stock in the quarter. Buybacks can support per-share earnings and shareholder returns. Share repurchase announcement
- Positive Sentiment: Wells Fargo raised its price target to $75 from $65 and kept an overweight rating; RBC lifted its target to $70 from $60 with an outperform rating; and KeyCorp raised its target to $68 from $65 while maintaining overweight. The revisions signal improved analyst confidence. Wells Fargo analyst ratings
- Positive Sentiment: Management plans regional Black Card price increases beginning in the second quarter of 2027, which could support future revenue, and announced entry into Portugal through the acquisition of Be-Fit. Long-term investor takeaways
- Neutral Sentiment: System-wide same-club sales increased 1.5%. Management is also reviewing its domestic company-owned clubs and plans to sell a portion; the outcome and effects of that strategic move remain uncertain. Planet Fitness third-quarter results
About Planet Fitness
Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. The company follows a “high-value, low-price” model designed to make gym memberships accessible to a broad range of consumers. Its clubs offer cardiovascular and strength-training equipment, group and individual exercise areas, and a welcoming environment known as the “Judgement Free Zone.”
Planet Fitness generates revenue primarily through membership dues, franchise royalties and fees, and sales of merchandise and other services.
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