Planet Fitness (NYSE:PLNT) Stock Price Up 4.2% - Should You Buy?

Key Points

• Planet Fitness shares rose 4.2% to about $51.51, although trading volume was 73% below the average daily level.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $69.34, well above the current price.
• The company exceeded quarterly expectations, reporting $0.88 in adjusted earnings per share and $365.22 million in revenue, while revenue increased 7.1% year over year. Institutional investors own 95.53% of the stock, but insider activity was mixed as an executive sold shares and a director bought shares.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report)'s stock price traded up 4.2% during trading on Friday. The company traded as high as $51.80 and last traded at $51.5080. Approximately 583,283 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,149,377 shares. The stock had previously closed at $49.41.

Analyst Ratings Changes

PLNT has been the topic of several research reports. Wells Fargo & Company restated an "overweight" rating on shares of Planet Fitness in a research note on Monday, July 20th. UBS Group reiterated a "buy" rating on shares of Planet Fitness in a report on Friday, October 9th. KeyCorp reissued an "overweight" rating on shares of Planet Fitness in a research report on Tuesday. Cantor Fitzgerald set a $62.00 price objective on Planet Fitness in a research note on Thursday, July 9th. Finally, Morgan Stanley raised their price objective on Planet Fitness from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average price target of $69.34.

Planet Fitness Stock Up 3.4%

The firm's 50 day moving average is $48.34 and its two-hundred day moving average is $54.22. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous 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, analysts anticipate that Planet Fitness, Inc. will post 3.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Planet Fitness news, COO William Bode sold 7,000 shares of the firm's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $51.22, for a total value of $358,540.00. Following the sale, the chief operating officer directly owned 32,939 shares in the company, valued at approximately $1,687,135.58. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher Tanco bought 2,328 shares of the business's stock in a transaction on Monday, September 14th. The stock was bought 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 $119,263.44. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Planet Fitness

Several hedge funds have recently bought and sold shares of PLNT. State of Alaska Department of Revenue increased its stake in shares of Planet Fitness by 28.4% in the third quarter. State of Alaska Department of Revenue now owns 19,626 shares of the company's stock valued at $827,000 after purchasing an additional 4,342 shares during the period. Mather Group LLC. boosted its position in shares of Planet Fitness by 163.3% during the third quarter. Mather Group LLC. now owns 790 shares of the company's stock worth $33,000 after buying an additional 490 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Planet Fitness during the third quarter worth approximately $32,000. Krilogy Financial LLC bought a new position in Planet Fitness in the 3rd quarter worth approximately $390,000. Finally, NorthCrest Asset Manangement LLC bought a new position in Planet Fitness in the 3rd quarter worth approximately $343,000. 95.53% of the stock is currently 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.

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