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Planet Fitness (PLNT) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3-min read

Planet Fitness (PLNT) closed the most recent trading day at $81.23, moving +0.46% from the previous trading session. This change outpaced the S&P 500's 0.54% loss on the day. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, lost 0.12%.

Coming into today, shares of the fitness center operator had lost 11.01% in the past month. In that same time, the Consumer Discretionary sector lost 13.15%, while the S&P 500 lost 7.87%.

Wall Street will be looking for positivity from Planet Fitness as it approaches its next earnings report date. On that day, Planet Fitness is projected to report earnings of $0.26 per share, which would represent year-over-year growth of 52.94%. Meanwhile, our latest consensus estimate is calling for revenue of $179.61 million, up 34.27% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for Planet Fitness. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.29% higher. Planet Fitness currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Planet Fitness is holding a Forward P/E ratio of 47.26. For comparison, its industry has an average Forward P/E of 35.12, which means Planet Fitness is trading at a premium to the group.

Investors should also note that PLNT has a PEG ratio of 2.36 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Leisure and Recreation Services stocks are, on average, holding a PEG ratio of 1.76 based on yesterday's closing prices.

The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow PLNT in the coming trading sessions, be sure to utilize Zacks.com.


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Planet Fitness, Inc. (PLNT) : Free Stock Analysis Report
 
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