JPMorgan Chase & Co. Issues Positive Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Key Points

• JPMorgan Chase & Co. raised its price target on Planet Fitness to $62 from $60 and kept an overweight rating, implying about 19.7% upside from the prior close.
• Despite JPMorgan’s bullish stance, analyst opinions are mixed: Planet Fitness has a Moderate Buy consensus with a $75.42 average target, but recent moves included downgrades from Weiss Ratings and Morgan Stanley, while TD Cowen stayed at hold.
• The company recently beat earnings expectations, posting $0.74 EPS versus $0.63 expected and $337.24 million in revenue, up 21.9% year over year; shares opened at $51.81 on Thursday, well below the stock’s 52-week high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) had its price target increased by equities researchers at JPMorgan Chase & Co. from $60.00 to $62.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 19.68% from the company's previous close.

Other research analysts have also recently issued reports about the company. TD Cowen restated a "hold" rating on shares of Planet Fitness in a research note on Friday, May 29th. Weiss Ratings lowered Planet Fitness from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 18th. Morgan Stanley cut shares of Planet Fitness from an "overweight" rating to an "equal weight" rating and set a $47.00 price target for the company. in a report on Friday, May 8th. Wells Fargo & Company lowered their price objective on Planet Fitness from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Finally, Canaccord Genuity Group set a $80.00 target price on shares of Planet Fitness in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.42.

Planet Fitness Price Performance

Shares of PLNT stock opened at $51.81 on Thursday. The company has a market capitalization of $4.12 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.14 and a beta of 1.04. The firm's 50-day moving average is $52.77 and its two-hundred day moving average is $75.03. Planet Fitness has a 12 month low of $37.03 and a 12 month high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.The company had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. During the same period in the prior year, the business posted $0.59 earnings per share. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Sell-side analysts forecast that Planet Fitness will post 3.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Frances G. Rathke bought 5,000 shares of Planet Fitness stock in a transaction on Friday, May 8th. The stock was purchased at an average cost of $46.21 per share, with a total value of $231,050.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $231,050. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in shares of Planet Fitness by 285.9% in the 2nd quarter. Versant Capital Management Inc now owns 494 shares of the company's stock worth $26,000 after acquiring an additional 366 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Planet Fitness during the fourth quarter valued at $27,000. Clearstead Advisors LLC lifted its stake in Planet Fitness by 135.9% during the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock valued at $36,000 after buying an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $41,000. 95.53% of the stock is currently owned by institutional investors.

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.

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