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

Wells Fargo & Company began coverage on shares of Planet Fitness (NYSE:PLNT) in a research report sent to investors on Wednesday, Marketbeat reports. The firm issued an overweight rating and a $90.00 price objective on the stock.

Several other analysts have also recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. Macquarie Infrastructure reduced their price target on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of Planet Fitness in a report on Tuesday. Morgan Stanley reiterated an “overweight” rating and issued a $117.00 price objective on shares of Planet Fitness in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.93.

Planet Fitness Stock Down 1.5%

Shares of PLNT opened at $73.63 on Wednesday. The business’s 50-day moving average price is $90.91 and its 200-day moving average price is $98.93. Planet Fitness has a twelve month low of $73.29 and a twelve month high of $114.47. The stock has a market cap of $5.89 billion, a PE ratio of 28.10, a P/E/G ratio of 1.30 and a beta of 1.25.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $376.26 million during 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%. Planet Fitness’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors have recently made changes to their positions in PLNT. Norges Bank purchased a new stake in shares of Planet Fitness during the 2nd quarter valued at $116,175,000. Junto Capital Management LP purchased a new position in Planet Fitness in the third quarter worth $73,603,000. Ninety One UK Ltd grew its position 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 acquiring an additional 577,637 shares in the last quarter. Squarepoint Ops LLC increased its stake in Planet Fitness by 152.8% in the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock valued at $92,896,000 after acquiring an additional 514,876 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Planet Fitness by 15.0% in the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock valued at $277,369,000 after acquiring an additional 332,362 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

More Planet Fitness News

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Jefferies reiterated a Buy and kept an aggressive $175 price target, calling the interim CFO appointment a stabilizing move; that bullish stance signals large upside versus current levels. Jefferies Maintains a Buy Rating on Planet Fitness, Inc. (PLNT) with a $175 Price Target
• Positive Sentiment: KeyBanc (KeyCorp) initiated coverage with an Overweight/“overweight”/“strong-buy” stance and a $100 price target (roughly mid/high double-digit upside), adding another institutional buy-side endorsement. KeyBanc initiates coverage of Planet Fitness (PLNT) with overweight recommendation
• Positive Sentiment: Wells Fargo also initiated coverage with an Overweight recommendation, adding to the recent wave of analyst support and potential demand from institutional buyers. Wells Fargo & Company Initiates Coverage on Planet Fitness (NYSE:PLNT)
• Positive Sentiment: Multiple analyst roundups (TipRanks/Globe and Mail coverage) highlight bullish sentiment on consumer-cyclical names including PLNT, reinforcing the analyst momentum behind the stock. Analysts Offer Insights on Consumer Cyclical Companies: Planet Fitness (PLNT)
• Neutral Sentiment: The company’s interim CFO appointment has drawn analyst attention to Planet Fitness’s valuation and balance sheet — a watchpoint that could slow upside until clarity on debt strategy and financial cadence emerges. Planet Fitness Interim CFO Shift Puts Valuation And Debt In Focus
• Negative Sentiment: Pomerantz LLP launched an investor investigation into Planet Fitness, which introduces litigation risk and may pressure the stock until details and potential exposures are clarified. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Planet Fitness, Inc. – PLNT

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.