Planet Fitness (NYSE:PLNT) Shares Gap Up – Time to Buy?

Planet Fitness, Inc. (NYSE:PLNT) gapped up prior to trading on Tuesday . The stock had previously closed at $109.88, but opened at $113.18. Planet Fitness shares last traded at $110.3410, with a volume of 227,148 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLNT shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Planet Fitness in a report on Tuesday, December 9th. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Canaccord Genuity Group increased their target price on shares of Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 17th. UBS Group started coverage on Planet Fitness in a research note on Friday, October 17th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $119.92.

Planet Fitness Stock Up 0.4%

The company has a market capitalization of $9.19 billion, a PE ratio of 44.98, a PEG ratio of 2.42 and a beta of 1.28. The firm has a 50-day moving average of $101.70 and a two-hundred day moving average of $104.41.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The firm had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Equities analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Game Plan Financial Advisors LLC purchased a new position in shares of Planet Fitness in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its stake in Planet Fitness by 964.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after purchasing an additional 241 shares during the last quarter. Brooklyn Investment Group raised its stake in Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after purchasing an additional 118 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 214 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in Planet Fitness by 6,950.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after purchasing an additional 417 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness

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.