Planet Fitness (NYSE:PLNT) Shares Up 6.6% – Should You Buy?

Planet Fitness, Inc. (NYSE:PLNT) was up 6.6% during trading on Friday. The company traded as high as $46.73 and last traded at $46.9220. Approximately 280,222 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,145,414 shares. The stock had previously closed at $44.03.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLNT. UBS Group restated an “overweight” rating on shares of Planet Fitness in a research report on Friday, September 25th. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Zacks Research upgraded Planet Fitness from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Robert W. Baird dropped their price target on Planet Fitness from $72.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $55.00 price target on shares of Planet Fitness in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $69.34.

Planet Fitness Stock Up 7.9%

The business has a 50-day simple moving average of $49.06 and a 200-day simple moving average of $55.17. The company has a market cap of $3.59 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.93 and a beta of 1.05.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.88 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 during the quarter, compared to analyst estimates of $356.21 million. During the same period last year, the business posted $0.86 earnings per share. The company’s quarterly revenue 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, equities research analysts predict that Planet Fitness, Inc. will post 3.21 EPS for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, COO William Bode sold 7,000 shares of Planet Fitness 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 transaction, the chief operating officer directly owned 32,939 shares of the company’s stock, valued at $1,687,135.58. The trade was a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher Tanco purchased 2,328 shares of the business’s stock in a transaction on Monday, September 14th. The shares were acquired at an average price of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the purchase, the director directly owned 2,328 shares of the company’s stock, valued at approximately $119,263.44. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in Planet Fitness in the second quarter valued at $44,399,000. Montanova Capital LLC acquired a new position in shares of Planet Fitness during the 2nd quarter worth $11,473,000. Van Berkom & Associates Inc. increased its holdings in shares of Planet Fitness by 21.1% in the 1st quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company’s stock valued at $73,697,000 after purchasing an additional 172,586 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 149,503 shares during the period. Finally, Amundi lifted its stake in shares of Planet Fitness by 118.2% in the first 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 period. Institutional investors and hedge funds 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.