KeyCorp Upgrades Planet Fitness (NYSE:PLNT) to Strong-Buy

Planet Fitness (NYSE:PLNT) was upgraded by investment analysts at KeyCorp to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

PLNT has been the subject of several other research reports. Macquarie Infrastructure dropped their target price on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Royal Bank Of Canada dropped their price objective on Planet Fitness from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a research note on Tuesday. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.93.

Planet Fitness Stock Performance

NYSE PLNT traded down $1.03 on Wednesday, hitting $73.74. 623,898 shares of the stock were exchanged, compared to its average volume of 2,001,848. The stock has a fifty day moving average price of $91.63 and a two-hundred day moving average price of $99.15. The firm has a market capitalization of $5.90 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.36 and a beta of 1.25. Planet Fitness has a 52-week low of $73.29 and a 52-week high of $114.47.

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

Hedge Funds Weigh In On Planet Fitness

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

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.