Morgan Stanley Forecasts Strong Price Appreciation for Planet Fitness (NYSE:PLNT) Stock

Planet Fitness (NYSE:PLNT) had its price objective increased by research analysts at Morgan Stanley from $51.00 to $55.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley‘s price objective points to a potential upside of 5.07% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group set a $106.00 target price on Planet Fitness in a research report on Thursday, August 6th. Zacks Research upgraded Planet Fitness from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Canaccord Genuity Group increased their price objective on Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Raymond James Financial restated a “strong-buy” rating and issued a $62.00 target price on shares of Planet Fitness in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $55.00 target price on shares of Planet Fitness in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.55.

Planet Fitness Trading Down 0.3%

Shares of Planet Fitness stock opened at $52.35 on Tuesday. The business’s fifty day simple moving average is $48.75 and its 200 day simple moving average is $63.39. The firm has a market capitalization of $3.95 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05. Planet Fitness has a 12 month low of $37.03 and a 12 month high of $114.26.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The firm had revenue of $365.22 million for the quarter, compared to analysts’ expectations of $356.21 million. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Analysts predict that Planet Fitness will post 3.21 EPS for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, Director Stephen Spinelli, Jr. bought 10,000 shares of Planet Fitness stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $49.28 per share, with a total value of $492,800.00. Following the acquisition, the director owned 45,516 shares in the company, valued at approximately $2,243,028.48. This trade represents a 28.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William Bode sold 7,000 shares of Planet Fitness stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $51.22, for a total value of $358,540.00. Following the completion of the transaction, the chief operating officer owned 32,939 shares in the company, valued at approximately $1,687,135.58. This represents a 17.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Planet Fitness

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its holdings in Planet Fitness by 2.5% in the third quarter. Oppenheimer & Co. Inc. now owns 13,663 shares of the company’s stock worth $577,000 after buying an additional 330 shares during the period. Leeward Investments LLC MA purchased a new position in shares of Planet Fitness during the 3rd quarter worth approximately $10,558,000. Citizens Financial Group Inc. RI purchased a new position in shares of Planet Fitness during the 3rd quarter worth approximately $547,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Planet Fitness in the 3rd quarter worth approximately $393,000. Finally, MBL Wealth LLC bought a new position in shares of Planet Fitness in the 3rd quarter worth approximately $376,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. The company follows a “high-value, low-price” model designed to make gym memberships accessible to a broad range of consumers. Its clubs offer cardiovascular and strength-training equipment, group and individual exercise areas, and a welcoming environment known as the “Judgement Free Zone.”

Planet Fitness generates revenue primarily through membership dues, franchise royalties and fees, and sales of merchandise and other services.