Robert W. Baird Cuts Planet Fitness (NYSE:PLNT) Price Target to $60.00

Planet Fitness (NYSE:PLNT) had its price target lowered by Robert W. Baird from $72.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on PLNT. Cantor Fitzgerald set a $62.00 price target on shares of Planet Fitness in a research note on Thursday, July 9th. Canaccord Genuity Group lifted their price objective on shares of Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Wells Fargo & Company restated an “overweight” rating on shares of Planet Fitness in a research report on Monday, July 20th. Finally, Jefferies Financial Group set a $106.00 price target on shares of Planet Fitness in a report on Thursday, August 6th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.34.

Planet Fitness Price Performance

NYSE:PLNT opened at $43.17 on Monday. Planet Fitness has a 1 year low of $37.03 and a 1 year high of $114.26. The stock’s 50 day simple moving average is $49.30 and its two-hundred day simple moving average is $55.39. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.91 and a beta of 1.05.

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

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, COO William Bode sold 7,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $51.22, for a total transaction of $358,540.00. Following the transaction, the chief operating officer owned 32,939 shares in the company, valued at $1,687,135.58. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen Spinelli, Jr. bought 10,000 shares of Planet Fitness stock in a transaction dated 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 purchase, 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 disclosure for this purchase is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Planet Fitness

Several institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Planet Fitness by 143.7% in the third quarter. Versant Capital Management Inc now owns 1,204 shares of the company’s stock worth $51,000 after purchasing an additional 710 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Planet Fitness by 19.6% during the second quarter. Tidal Investments LLC now owns 60,136 shares of the company’s stock valued at $3,137,000 after buying an additional 9,848 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Planet Fitness in the second quarter worth approximately $590,000. Engineers Gate Manager LP purchased a new stake in shares of Planet Fitness in the second quarter worth approximately $1,859,000. Finally, Allworth Financial LP lifted its stake in shares of Planet Fitness by 15.5% during the 2nd quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock worth $89,000 after acquiring an additional 228 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc (NYSE: PLNT) is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.