Planet Fitness (NYSE:PLNT) Given New $60.00 Price Target at Royal Bank Of Canada

Planet Fitness (NYSE:PLNT) had its target price lowered by Royal Bank Of Canada from $65.00 to $60.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Planet Fitness in a research report on Monday, September 14th. Robert W. Baird dropped their target price on shares of Planet Fitness from $72.00 to $60.00 and set an “outperform” rating for the company in a report on Monday. JPMorgan Chase & Co. boosted their price target on Planet Fitness from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Morgan Stanley upped their price target on Planet Fitness from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, UBS Group reiterated an “overweight” rating on shares of Planet Fitness in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.34.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $42.09 on Monday. Planet Fitness has a 52-week low of $37.03 and a 52-week high of $114.26. The company’s 50 day moving average price is $49.83 and its 200-day moving average price is $55.85. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 0.91 and a beta of 1.05.

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

Insider Activity

In related news, Director Christopher Tanco purchased 2,328 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was bought at an average cost of $51.23 per share, with a total value of $119,263.44. Following the completion of the purchase, the director directly owned 2,328 shares in the company, valued at approximately $119,263.44. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen Spinelli, Jr. acquired 10,000 shares of the stock in a transaction on Monday, August 10th. The stock was bought 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 directly owned 45,516 shares of the company’s stock, valued at $2,243,028.48. This trade represents a 28.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.90% of the company’s stock.

Institutional Trading of Planet Fitness

Several large investors have recently bought and sold shares of PLNT. Assenagon Asset Management S.A. purchased a new stake in Planet Fitness during the 2nd quarter valued at $44,399,000. Montanova Capital LLC bought a new stake in shares of Planet Fitness in the second quarter worth $11,473,000. Van Berkom & Associates Inc. increased its position in Planet Fitness by 21.1% during the first quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company’s stock valued at $73,697,000 after acquiring an additional 172,586 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Planet Fitness by 1.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock valued at $1,001,848,000 after acquiring an additional 149,503 shares during the period. Finally, Amundi increased its position in shares of Planet Fitness by 118.2% during the 1st quarter. Amundi now owns 260,327 shares of the company’s stock valued at $19,363,000 after purchasing an additional 141,010 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Company Profile

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.