Planet Fitness (NYSE:PLNT) Now Covered by KeyCorp

Key Points

• KeyCorp initiated coverage on Planet Fitness with an "overweight" rating and a $100 price target, implying about a 28.36% upside from the previous close.
• Analyst consensus per MarketBeat is a "Moderate Buy" with a consensus price target of $116.93 and a breakdown of 2 Strong Buy, 12 Buy, 4 Hold and 1 Sell.
• Planet Fitness recently beat estimates—Q EPS $0.83 vs $0.79 and revenue $376.3M vs $366.5M (revenue +10.5% YoY)—and issued FY2026 EPS guidance of $3.350–3.380.

Research analysts at KeyCorp assumed coverage on shares of Planet Fitness (NYSE:PLNT - Get Free Report) in a report issued on Thursday,Benzinga reports. The firm set an "overweight" rating and a $100.00 price target on the stock. KeyCorp's price objective indicates a potential upside of 28.36% from the company's previous close.

Several other equities analysts have also commented on the stock. Stifel Nicolaus set a $105.00 target price on shares of Planet Fitness in a report on Tuesday, February 24th. William Blair restated an "outperform" rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Planet Fitness from $115.00 to $98.00 and set a "hold" rating on the stock in a research note on Thursday, February 26th. Guggenheim upgraded Planet Fitness to a "strong-buy" rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Planet Fitness in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.93.

Planet Fitness Trading Up 2.1%

Shares of NYSE PLNT opened at $77.91 on Thursday. The stock's 50-day moving average is $92.30 and its 200 day moving average is $99.32. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 1.33 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 - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $376.26 million during the quarter, compared to analyst estimates of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.Planet Fitness's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, analysts forecast that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Planet Fitness during the second quarter valued at approximately $116,175,000. Junto Capital Management LP bought a new position in shares of Planet Fitness during the third quarter valued at $73,603,000. Ninety One UK Ltd boosted its position in shares of Planet Fitness by 20.0% during the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company's stock valued at $359,308,000 after buying an additional 577,637 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Planet Fitness by 152.8% in the 2nd quarter. Squarepoint Ops LLC now owns 851,866 shares of the company's stock worth $92,896,000 after buying an additional 514,876 shares in the last quarter. Finally, Invesco Ltd. raised its position in Planet Fitness by 15.0% in the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company's stock worth $277,369,000 after buying an additional 332,362 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.