JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Planet Fitness (NYSE:PLNT) Stock

Planet Fitness (NYSE:PLNT) had its target price raised by research analysts at JPMorgan Chase & Co. from $108.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.73% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on Planet Fitness from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group initiated coverage on Planet Fitness in a research note on Friday, October 17th. They set a “buy” rating and a $125.00 target price on the stock. Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Finally, Stifel Nicolaus set a $125.00 price objective on shares of Planet Fitness in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.71.

Planet Fitness Trading Up 2.7%

Shares of PLNT traded up $2.80 during midday trading on Friday, hitting $106.04. The stock had a trading volume of 2,137,924 shares, compared to its average volume of 1,447,347. The business has a 50-day simple moving average of $98.63 and a two-hundred day simple moving average of $102.63. The firm has a market cap of $8.93 billion, a P/E ratio of 47.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. Planet Fitness has a fifty-two week low of $87.72 and a fifty-two week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

Several large investors have recently made changes to their positions in PLNT. Vanguard Group Inc. raised its position in shares of Planet Fitness by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock valued at $782,394,000 after purchasing an additional 62,716 shares during the period. Emerald Advisers LLC bought a new stake in shares of Planet Fitness during the 1st quarter worth $528,000. Envestnet Asset Management Inc. grew its stake in Planet Fitness by 6.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 177,333 shares of the company’s stock valued at $17,132,000 after buying an additional 11,437 shares during the last quarter. LPL Financial LLC increased its stake in shares of Planet Fitness by 13.9% in the first quarter. LPL Financial LLC now owns 50,890 shares of the company’s stock worth $4,810,000 after purchasing an additional 6,228 shares during the period. Finally, Versor Investments LP bought a new position in Planet Fitness in the 1st quarter worth approximately $1,545,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.