Research Analysts’ Recent Ratings Updates for Planet Fitness (PLNT)

Planet Fitness (NYSE: PLNT) has recently received a number of price target changes and ratings updates:

• 5/14/2024 – Planet Fitness was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $78.00 price target on the stock, up previously from $68.00.
• 5/10/2024 – Planet Fitness had its price target raised by analysts at Raymond James from $75.00 to $80.00. They now have a “strong-buy” rating on the stock.
• 5/10/2024 – Planet Fitness had its price target lowered by analysts at Royal Bank of Canada from $80.00 to $77.00. They now have an “outperform” rating on the stock.
• 5/10/2024 – Planet Fitness had its price target raised by analysts at Robert W. Baird from $80.00 to $88.00. They now have an “outperform” rating on the stock.
• 5/10/2024 – Planet Fitness was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $70.00 price target on the stock, down previously from $80.00.
• 5/9/2024 – Planet Fitness had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $62.00 price target on the stock.
• 5/8/2024 – Planet Fitness was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/30/2024 – Planet Fitness was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/10/2024 – Planet Fitness was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/2/2024 – Planet Fitness was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/1/2024 – Planet Fitness had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $79.00 price target on the stock.

Planet Fitness Trading Up 2.4 %

NYSE:PLNT opened at $64.77 on Tuesday. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $75.86. The company has a market cap of $5.71 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. The company has a 50 day simple moving average of $61.66 and a two-hundred day simple moving average of $65.89.

Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. Planet Fitness’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Research analysts forecast that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cadian Capital Management LP lifted its position in Planet Fitness by 164.7% during the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock valued at $198,860,000 after acquiring an additional 2,516,007 shares during the last quarter. Dorsal Capital Management LP purchased a new position in shares of Planet Fitness in the fourth quarter worth $182,500,000. Greenvale Capital LLP raised its holdings in shares of Planet Fitness by 291.3% in the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after buying an additional 1,296,140 shares during the last quarter. Norges Bank purchased a new position in shares of Planet Fitness in the fourth quarter worth $65,674,000. Finally, Steadfast Capital Management LP raised its holdings in shares of Planet Fitness by 97.7% in the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after buying an additional 682,863 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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