Planet Fitness (NYSE:PLNT) Earns Overweight Rating from Analysts at Wells Fargo & Company

Research analysts at Wells Fargo & Company began coverage on shares of Planet Fitness (NYSE:PLNT) in a research note issued to investors on Wednesday. The firm set an “overweight” rating and a $90.00 price target on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 17.91% from the stock’s previous close.

PLNT has been the subject of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating and set a $117.00 target price on shares of Planet Fitness in a report on Tuesday. JPMorgan Chase & Co. decreased their target price 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Planet Fitness from $115.00 to $98.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Zacks Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, TD Cowen reissued a “buy” rating on shares of Planet Fitness in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average price target of $118.23.

Planet Fitness Stock Performance

PLNT opened at $76.33 on Wednesday. Planet Fitness has a fifty-two week low of $73.29 and a fifty-two week high of $114.47. The company has a market capitalization of $6.11 billion, a P/E ratio of 29.13, a P/E/G ratio of 1.36 and a beta of 1.25. The stock has a fifty day moving average of $92.92 and a 200-day moving average of $99.47.

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

Institutional Trading of Planet Fitness

Several hedge funds have recently modified their holdings of PLNT. V Square Quantitative Management LLC purchased a new position in shares of Planet Fitness in the 4th quarter valued at about $27,000. Clearstead Advisors LLC grew 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 valued at $36,000 after buying an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $36,000 after purchasing an additional 214 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Planet Fitness during the 4th quarter worth $41,000. Finally, Hantz Financial Services Inc. raised its holdings in Planet Fitness by 51.9% during the third quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after purchasing an additional 138 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.