Planet Fitness (NYSE:PLNT) Lowered to Market Perform Rating by William Blair

Key Points

• William Blair downgraded Planet Fitness from "outperform" to "market perform," and several brokers cut price targets (e.g., Baird to $100, JPMorgan to $105), though the consensus remains a "Moderate Buy" with an average target of $109.27.
• Planet Fitness reported stronger-than-expected quarterly results — $0.74 EPS vs. $0.63 expected and revenue of $337.2M (up 21.9% year-over-year) — while issuing FY2026 guidance of 3.190 EPS versus analyst forecasts of ~3.38.
• The stock is trading near its 12‑month low (opened at $64.07, 12‑month low $62.38) with a market cap of $5.13B and a P/E of 24.45, and is highly institutionally owned (~95.5%).

Planet Fitness (NYSE:PLNT - Get Free Report) was downgraded by investment analysts at William Blair from an "outperform" rating to a "market perform" rating in a report released on Thursday.

A number of other brokerages have also weighed in on PLNT. Robert W. Baird decreased their target price on Planet Fitness from $112.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday. Zacks Research lowered shares of Planet Fitness from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. Wells Fargo & Company decreased their price objective on shares of Planet Fitness from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Planet Fitness from $120.00 to $105.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 25th. Finally, Morgan Stanley restated an "overweight" rating and issued a $117.00 target price on shares of Planet Fitness in a report on Tuesday, March 10th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Planet Fitness has a consensus rating of "Moderate Buy" and an average target price of $109.27.

Planet Fitness Trading Down 0.4%

Shares of PLNT opened at $64.07 on Thursday. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.12 and a beta of 1.12. The business's fifty day simple moving average is $73.99 and its two-hundred day simple moving average is $91.54. Planet Fitness has a 12 month low of $62.38 and a 12 month high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $337.24 million during the quarter, compared to analysts' expectations of $298.60 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The company's revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, research analysts forecast that Planet Fitness will post 3.38 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

Institutional investors have recently bought and sold shares of the stock. Cibc World Market Inc. grew its holdings in Planet Fitness by 1.2% during the third quarter. Cibc World Market Inc. now owns 8,607 shares of the company's stock valued at $893,000 after purchasing an additional 98 shares during the period. MML Investors Services LLC raised its stake in shares of Planet Fitness by 1.3% in the fourth quarter. MML Investors Services LLC now owns 9,811 shares of the company's stock worth $1,064,000 after buying an additional 122 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Planet Fitness by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company's stock valued at $2,764,000 after buying an additional 123 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Planet Fitness by 51.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company's stock valued at $42,000 after buying an additional 138 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Planet Fitness by 2.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,963 shares of the company's stock valued at $619,000 after acquiring an additional 163 shares during the period. 95.53% of the stock is owned by 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.

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