Planet Fitness (NYSE:PLNT) Rating Increased to Strong-Buy at KeyCorp

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

Several other research firms have also recently weighed in on PLNT. Canaccord Genuity Group boosted their target price on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Wells Fargo & Company started coverage on shares of Planet Fitness in a research report on Wednesday. They set an “overweight” rating and a $90.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $175.00 price target on shares of Planet Fitness in a report on Tuesday, February 24th. Finally, Stifel Nicolaus set a $105.00 target price on shares of Planet Fitness in a research note on Tuesday, February 24th. Three 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 issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.93.

Planet Fitness Trading Down 4.0%

PLNT opened at $74.78 on Wednesday. The business has a 50 day moving average of $91.63 and a 200-day moving average of $99.15. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 1.36 and a beta of 1.25. Planet Fitness has a 1-year low of $73.29 and a 1-year high of $114.47.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC grew its holdings in shares of Planet Fitness by 1,886.5% during the fourth quarter. Hsbc Holdings PLC now owns 61,800 shares of the company’s stock valued at $6,726,000 after buying an additional 58,689 shares during the last quarter. SHP Wealth Management acquired a new position in Planet Fitness in the 4th quarter valued at approximately $71,000. Coastline Complete Wealth LLC purchased a new position in Planet Fitness in the fourth quarter worth $2,815,000. Pacer Advisors Inc. lifted its holdings in Planet Fitness by 18.2% during 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 in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Planet Fitness during the 4th quarter valued at approximately $663,000. 95.53% of the stock is owned by institutional investors.

Key Stories Impacting Planet Fitness

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Jefferies reiterated a Buy and a lofty $175 price target, saying the appointment of former CFO Tom Fitzgerald as interim CFO reduces execution risk and supports a strong long?term cash flow outlook. Jefferies Maintains a Buy Rating on Planet Fitness (InsiderMonkey)
• Positive Sentiment: KeyCorp started coverage with an Overweight and $100 price target, signaling a consensus analyst view that there’s material upside from current levels based on membership trends and franchise economics. KeyCorp Overweight Coverage (Benzinga)
• Positive Sentiment: Wells Fargo initiated coverage with an Overweight and $90 target, adding institutional support to the bullish analyst narrative that expects recovery in new club openings and unit economics. Wells Fargo Initiates Coverage (MSN)
• Neutral Sentiment: Multiple recent analyst pieces (Globe and Mail, TipRanks compilations) show general analyst optimism on consumer cyclical names including PLNT, but they largely echo the same upside thesis rather than adding new material catalysts. Analyst Insights (The Globe and Mail)
• Neutral Sentiment: Industry comparison and “head?to?head” coverage pieces (e.g., Planet Fitness vs. peers) provide context on relative valuation and growth but are not direct catalysts. Head to Head Analysis (American Banking News)
• Negative Sentiment: Yahoo Finance reports the interim CFO shift has renewed investor focus on Planet Fitness’s valuation and debt profile, raising governance and execution concerns that can pressure the stock until leadership and capital?structure questions are fully resolved. Interim CFO Shift Raises Valuation & Debt Concerns (Yahoo Finance)
• Negative Sentiment: Pomerantz LLP announced an investor investigation into Planet Fitness, signaling potential litigation risk that typically increases uncertainty and can weigh on share prices until resolved. Pomerantz Investor Investigation (PR Newswire)

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.