Planet Fitness (NYSE:PLNT) Upgraded at KeyCorp

KeyCorp upgraded shares of Planet Fitness (NYSE:PLNT) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also issued reports on PLNT. Stifel Nicolaus set a $105.00 price target on Planet Fitness in a report on Tuesday, February 24th. Zacks Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Royal Bank Of Canada dropped their price target on Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.93.

Planet Fitness Price Performance

PLNT stock opened at $73.63 on Wednesday. The company has a market capitalization 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 has a 12 month low of $73.29 and a 12 month high of $114.47. The firm’s 50-day moving average is $90.91 and its 200 day moving average is $98.93.

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

Institutional Trading of Planet Fitness

A number of hedge funds have recently bought and sold shares of PLNT. Hsbc Holdings PLC raised its position in shares of Planet Fitness by 1,886.5% in the 4th quarter. Hsbc Holdings PLC now owns 61,800 shares of the company’s stock worth $6,726,000 after acquiring an additional 58,689 shares in the last quarter. SHP Wealth Management bought a new stake in Planet Fitness during the fourth quarter valued at about $71,000. Coastline Complete Wealth LLC bought a new stake in Planet Fitness during the fourth quarter valued at about $2,815,000. Pacer Advisors Inc. grew its stake in Planet Fitness by 18.2% in the fourth quarter. Pacer Advisors Inc. now owns 13,073 shares of the company’s stock valued at $1,418,000 after purchasing an additional 2,013 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Planet Fitness in the fourth quarter valued at about $663,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Key Headlines Impacting Planet Fitness

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.