Planet Fitness (NYSE:PLNT) Reaches New 1-Year Low – Here’s What Happened

Planet Fitness, Inc. (NYSE:PLNT)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $73.29 and last traded at $76.33, with a volume of 2565122 shares changing hands. The stock had previously closed at $77.89.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLNT shares. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 target price on shares of Planet Fitness in a report on Tuesday, February 24th. Royal Bank Of Canada cut their target price on Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Canaccord Genuity Group boosted their price target on Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Planet Fitness from $115.00 to $98.00 and set a “hold” rating for the company in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.58.

Planet Fitness Trading Down 2.0%

The company’s fifty day simple moving average is $92.92 and its 200 day simple moving average is $99.47. The firm has a market capitalization of $6.11 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 1.36 and a beta of 1.25.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The firm had revenue of $376.26 million for the quarter, compared to analyst estimates of $366.48 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of Planet Fitness by 1.6% in 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 during the period. SRS Investment Management LLC grew its stake in Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after purchasing an additional 212,145 shares during the period. Ninety One UK Ltd raised its holdings in Planet Fitness by 20.0% in the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock worth $359,308,000 after purchasing an additional 577,637 shares in the last quarter. Invesco Ltd. raised its holdings in Planet Fitness by 15.0% in the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after purchasing an additional 332,362 shares in the last quarter. Finally, Dorsal Capital Management LP lifted its position in Planet Fitness by 7.6% during the second quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock valued at $269,899,000 after buying an additional 175,000 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

About Planet Fitness

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.