Planet Fitness (NYSE:PLNT) Given New $75.00 Price Target at Wells Fargo & Company

Planet Fitness (NYSE:PLNT) had its price objective hoisted by Wells Fargo & Company from $65.00 to $75.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $55.00 price objective on shares of Planet Fitness in a report on Wednesday, July 22nd. Royal Bank Of Canada dropped their price target on Planet Fitness from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Robert W. Baird reduced their price target on Planet Fitness from $72.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. KeyCorp reaffirmed an “overweight” rating on shares of Planet Fitness in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.29.

Planet Fitness Price Performance

Planet Fitness stock traded up $0.27 during mid-day trading on Friday, hitting $60.34. 2,028,573 shares of the company’s stock traded hands, compared to its average volume of 1,873,862. Planet Fitness has a fifty-two week low of $37.03 and a fifty-two week high of $114.26. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.19 and a beta of 1.02. The firm has a 50 day simple moving average of $49.22 and a two-hundred day simple moving average of $61.34.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $359.98 million during the quarter, compared to analysts’ expectations of $348.34 million. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. Planet Fitness’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. On average, research analysts anticipate that Planet Fitness will post 3.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other news, COO William Bode sold 7,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $51.22, for a total transaction of $358,540.00. Following the completion of the transaction, the chief operating officer directly owned 32,939 shares in the company, valued at approximately $1,687,135.58. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Tanco bought 2,328 shares of the stock in a transaction on Monday, September 14th. The stock was purchased at an average cost of $51.23 per share, with a total value of $119,263.44. Following the acquisition, the director owned 2,328 shares in the company, valued at approximately $119,263.44. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently made changes to their positions in the stock. Van Berkom & Associates Inc. increased its position in shares of Planet Fitness by 9.4% during the third quarter. Van Berkom & Associates Inc. now owns 1,379,902 shares of the company’s stock worth $58,259,000 after buying an additional 118,054 shares during the period. Dimensional Fund Advisors LP raised its stake in Planet Fitness by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company’s stock worth $92,091,000 after buying an additional 21,914 shares during the period. Assenagon Asset Management S.A. acquired a new position in Planet Fitness during the second quarter worth $44,399,000. Bank of America Corp DE lifted its stake in shares of Planet Fitness by 7.2% in the first quarter. Bank of America Corp DE now owns 779,251 shares of the company’s stock valued at $57,961,000 after buying an additional 52,289 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Planet Fitness by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 732,411 shares of the company’s stock valued at $54,477,000 after buying an additional 13,089 shares in 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: Third-quarter revenue rose 9% year over year to about $360 million, topping estimates of $348 million, while earnings of $0.83 per share also beat expectations. The company raised its 2026 forecast, adding to the upbeat results. Planet Fitness third-quarter results
• Positive Sentiment: Planet Fitness authorized a new $500 million share repurchase program and said it repurchased and retired $50 million of stock in the quarter. Buybacks can support per-share earnings and shareholder returns. Share repurchase announcement
• Positive Sentiment: Wells Fargo raised its price target to $75 from $65 and kept an overweight rating; RBC lifted its target to $70 from $60 with an outperform rating; and KeyCorp raised its target to $68 from $65 while maintaining overweight. The revisions signal improved analyst confidence. Wells Fargo analyst ratings
• Positive Sentiment: Management plans regional Black Card price increases beginning in the second quarter of 2027, which could support future revenue, and announced entry into Portugal through the acquisition of Be-Fit. Long-term investor takeaways
• Neutral Sentiment: System-wide same-club sales increased 1.5%. Management is also reviewing its domestic company-owned clubs and plans to sell a portion; the outcome and effects of that strategic move remain uncertain. Planet Fitness third-quarter results

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.