Robert W. Baird Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Key Points

• Robert W. Baird cut Planet Fitness’s price target from $72 to $60 while maintaining an “outperform” rating, implying roughly 41% upside from the stock’s $42.47 opening price.
• Analyst sentiment remains broadly positive but mixed: Planet Fitness has a “Moderate Buy” consensus rating and an average price target of $69.61, despite ratings ranging from Strong Buy to Sell.
• The company recently exceeded quarterly earnings and revenue expectations, with revenue up 7.1% year over year; however, insider activity was mixed as a director bought shares while the COO sold 7,000 shares.

Planet Fitness (NYSE:PLNT - Get Free Report) had its price objective dropped by investment analysts at Robert W. Baird from $72.00 to $60.00 in a report released on Monday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 41.29% from the stock's current price.

A number of other equities analysts have also recently issued reports on PLNT. Cantor Fitzgerald set a $62.00 price objective on shares of Planet Fitness in a research note on Thursday, July 9th. Morgan Stanley lifted their target price on shares of Planet Fitness from $47.00 to $51.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $55.00 target price on shares of Planet Fitness in a research note on Wednesday, July 22nd. Weiss Ratings reissued a "sell (d+)" rating on shares of Planet Fitness in a research report on Monday, September 14th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Planet Fitness in a research note on Monday, July 20th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $69.61.

Planet Fitness Trading Up 0.1%

Shares of PLNT stock opened at $42.47 on Monday. Planet Fitness has a 12 month low of $37.03 and a 12 month high of $114.26. The company has a market capitalization of $3.21 billion, a P/E ratio of 14.40, a P/E/G ratio of 0.91 and a beta of 1.05. The stock has a 50 day moving average of $50.08 and a two-hundred 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.03. The business 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Sell-side analysts predict that Planet Fitness will post 3.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher Tanco bought 2,328 shares of the stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $51.23 per share, with a total value of $119,263.44. Following the acquisition, the director owned 2,328 shares in the company, valued at $119,263.44. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO William Bode sold 7,000 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $51.22, for a total transaction of $358,540.00. Following the completion of the sale, the chief operating officer directly owned 32,939 shares in the company, valued at approximately $1,687,135.58. The trade was a 17.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors have recently added to or reduced their stakes in PLNT. Assenagon Asset Management S.A. acquired a new position in shares of Planet Fitness in the 2nd quarter worth approximately $44,399,000. Montanova Capital LLC bought a new stake in Planet Fitness during the 2nd quarter worth approximately $11,473,000. Van Berkom & Associates Inc. increased its holdings in Planet Fitness by 21.1% during 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. increased its holdings in Planet Fitness by 1.6% during the 4th 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 in the last quarter. Finally, Amundi increased its holdings in 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 in the last quarter. 95.53% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.