Wells Fargo & Company Lowers Planet Fitness (NYSE:PLNT) Price Target to $80.00

Planet Fitness (NYSE:PLNT) had its price target lowered by investment analysts at Wells Fargo & Company from $90.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 24.63% from the company’s current price.

PLNT has been the subject of a number of other reports. TD Cowen decreased their price target on Planet Fitness from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Canaccord Genuity Group decreased their price target on Planet Fitness from $128.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Royal Bank Of Canada decreased their price target on Planet Fitness from $120.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price target on Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Robert W. Baird decreased their price target on Planet Fitness from $112.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.27.

Planet Fitness Trading Up 1.4%

Shares of PLNT traded up $0.90 on Tuesday, reaching $64.19. 158,576 shares of the company’s stock traded hands, compared to its average volume of 1,748,441. The stock has a market cap of $5.14 billion, a PE ratio of 24.52, a PEG ratio of 1.13 and a beta of 1.12. The stock’s 50 day simple moving average is $75.05 and its two-hundred day simple moving average is $91.95. Planet Fitness has a 52-week low of $62.38 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results 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 the consensus estimate 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 revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Analysts forecast that Planet Fitness will post 3.38 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors have recently made changes to their positions in PLNT. Katamaran Capital LLP bought a new position in shares of Planet Fitness in the first quarter worth $974,000. State of Michigan Retirement System grew its holdings in shares of Planet Fitness by 2.0% during the first quarter. State of Michigan Retirement System now owns 20,000 shares of the company’s stock worth $1,488,000 after purchasing an additional 400 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Planet Fitness during the first quarter worth about $215,000. Fifth Third Bancorp grew its holdings in shares of Planet Fitness by 3,576.9% during the first quarter. Fifth Third Bancorp now owns 34,857 shares of the company’s stock worth $2,593,000 after purchasing an additional 33,909 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Planet Fitness by 73.1% during the first quarter. Hsbc Holdings PLC now owns 106,972 shares of the company’s stock worth $8,005,000 after purchasing an additional 45,172 shares in the last quarter. Hedge funds and other institutional investors 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.