Morgan Stanley Has Lowered Expectations for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price objective lowered by equities research analysts at Morgan Stanley from $128.00 to $117.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 42.10% from the stock’s previous close.

PLNT has been the topic of a number of other reports. TD Cowen restated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft cut their price target on Planet Fitness from $115.00 to $98.00 and set a “hold” rating for the company in a research note on Thursday. Stifel Nicolaus set a $105.00 target price on shares of Planet Fitness in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 price target on shares of Planet Fitness in a research note on Tuesday. Finally, Royal Bank Of Canada cut their price objective on Planet Fitness from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.58.

Planet Fitness Trading Down 1.7%

Shares of NYSE:PLNT opened at $82.34 on Thursday. The stock has a fifty day simple moving average of $97.15 and a two-hundred day simple moving average of $100.89. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.34 and a beta of 1.26. Planet Fitness has a 12-month low of $79.18 and a 12-month high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, topping 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 negative return on equity of 97.97% and a net margin of 16.55%.The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, equities research analysts predict that Planet Fitness will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. V Square Quantitative Management LLC acquired a new stake in Planet Fitness during the 4th quarter valued at approximately $27,000. Hantz Financial Services Inc. boosted its position in Planet Fitness by 964.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Planet Fitness by 135.9% during the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Planet Fitness in the 4th quarter valued at $41,000. 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.