Planet Fitness (NYSE:PLNT) Hits New 52-Week Low – Time to Sell?

Planet Fitness, Inc. (NYSE:PLNT) shares reached a new 52-week low on Thursday . The company traded as low as $68.89 and last traded at $69.7060, with a volume of 234914 shares trading hands. The stock had previously closed at $71.18.

Analyst Ratings Changes

PLNT has been the topic of a number of research analyst reports. Piper Sandler cut shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a research note on Friday, February 27th. Morgan Stanley reiterated an “overweight” rating and issued a $117.00 target price on shares of Planet Fitness in a research note on Tuesday, March 10th. KeyCorp assumed coverage on shares of Planet Fitness in a research note on Thursday, March 12th. They set an “overweight” rating and a $100.00 price target on the stock. Zacks Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.08.

Planet Fitness Stock Performance

The company’s 50 day simple moving average is $77.99 and its 200-day simple moving average is $93.17. The firm has a market capitalization of $5.51 billion, a PE ratio of 26.30, a PEG ratio of 1.25 and a beta of 1.31.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $376.26 million for the quarter, compared to analyst estimates of $366.48 million. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, equities research analysts forecast that Planet Fitness, Inc. will post 3.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at $27,000. Clearstead Advisors LLC lifted its position in shares of Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 193 shares during the period. 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 worth $36,000 after purchasing an additional 214 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Planet Fitness in the 4th quarter worth about $41,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Planet Fitness by 51.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after purchasing an additional 138 shares during the period. Institutional investors own 95.53% of the company’s stock.

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.