Planet Fitness (NYSE:PLNT) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Planet Fitness’s price target from $65 to $60 while maintaining an “outperform” rating, implying roughly 45.65% upside from the reported $41.20 share price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $69.34, despite several recent target reductions.
• Planet Fitness exceeded quarterly expectations, reporting $0.88 in earnings per share versus an $0.85 estimate and revenue of $365.22 million, up 7.1% year over year.

Planet Fitness (NYSE:PLNT - Get Free Report) had its price objective lowered by stock analysts at Royal Bank Of Canada from $65.00 to $60.00 in a report released on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price suggests a potential upside of 45.65% from the stock's current price.

PLNT has been the topic of several other research reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Planet Fitness in a research note on Monday, September 14th. KeyCorp reissued an "overweight" rating on shares of Planet Fitness in a report on Friday, September 18th. UBS Group restated an "overweight" rating on shares of Planet Fitness in a research note on Friday, September 25th. Robert W. Baird lowered their price target on shares of Planet Fitness from $72.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.34.

Planet Fitness Stock Down 2.9%

Shares of PLNT opened at $41.20 on Monday. Planet Fitness has a twelve month low of $37.03 and a twelve month high of $114.26. The company has a market capitalization of $3.11 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.05. The firm has a 50 day moving average of $50.08 and a 200 day moving average of $56.07.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.85 by $0.03. The company had revenue of $365.22 million for the quarter, compared to analysts' expectations of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.Planet Fitness's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, sell-side analysts expect that Planet Fitness will post 3.21 EPS for the current year.

Insider Activity

In other news, Director Christopher Tanco bought 2,328 shares of the stock in a transaction on Monday, September 14th. The stock was bought at an average cost 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 in the company, valued at approximately $119,263.44. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO William Bode sold 7,000 shares of the firm's 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 sale, the chief operating officer directly owned 32,939 shares of the company's stock, valued at approximately $1,687,135.58. This represents a 17.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new position in shares of Planet Fitness in the second quarter worth about $1,859,000. Entropy Technologies LP purchased a new position in Planet Fitness during the 4th quarter worth approximately $2,744,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Planet Fitness during the 2nd quarter valued at approximately $1,523,000. Osborne Partners Capital Management LLC increased its stake in shares of Planet Fitness by 110.6% in the first quarter. Osborne Partners Capital Management LLC now owns 152,197 shares of the company's stock worth $11,320,000 after acquiring an additional 79,915 shares during the period. Finally, WCM Investment Management LLC raised its holdings in shares of Planet Fitness by 58.3% during the first quarter. WCM Investment Management LLC now owns 265,134 shares of the company's stock worth $19,548,000 after purchasing an additional 97,697 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

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.

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