Planet Fitness (NYSE:PLNT) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Planet Fitness (NYSE:PLNT) in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $90.00 price target on the stock.

Several other brokerages also recently commented on PLNT. Piper Sandler downgraded Planet Fitness from an “overweight” rating to a “neutral” rating in a research note on Friday, February 27th. Zacks Research cut Planet Fitness from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. TD Cowen reaffirmed a “buy” rating on shares of Planet Fitness in a report on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $77.91 on Wednesday. Planet Fitness has a 52-week low of $73.29 and a 52-week high of $114.47. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.33 and a beta of 1.25. The firm’s 50-day moving average is $92.30 and its 200-day moving average is $99.32.

Planet Fitness (NYSE:PLNT) last posted 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 business had revenue of $376.26 million during the quarter, compared to analysts’ expectations of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.Planet Fitness’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Sell-side analysts predict that Planet Fitness will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Institutional investors and hedge funds have recently made changes to their positions in the company. Cibc World Market Inc. lifted its stake in Planet Fitness by 1.2% during the third quarter. Cibc World Market Inc. now owns 8,607 shares of the company’s stock worth $893,000 after purchasing an additional 98 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Planet Fitness by 1.3% in the 4th quarter. MML Investors Services LLC now owns 9,811 shares of the company’s stock valued at $1,064,000 after purchasing an additional 122 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Planet Fitness by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company’s stock valued at $2,764,000 after purchasing an additional 123 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Planet Fitness by 3.7% during the 2nd quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock worth $405,000 after buying an additional 132 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Planet Fitness by 51.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds 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.