Is Buying 52-Week Stock Like Planet Fitness Inc (PLNT) a Winning Strategy?

September 29, 2017 - By Peter Erickson

The stock of Planet Fitness Inc (NYSE:PLNT) hit a new 52-week high and has $28.64 target or 6.00 % above today’s $27.02 share price. The 6 months bullish chart indicates low risk for the $2.66 billion company. The 1-year high was reported on Sep, 29 by Barchart.com. If the $28.64 price target is reached, the company will be worth $159.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 151,142 shares traded. Planet Fitness Inc (NYSE:PLNT) has risen 39.93% since September 29, 2016 and is uptrending. It has outperformed by 23.23% the S&P500.

Investors wait Planet Fitness Inc (NYSE:PLNT) to report on October, 25. its quarterly earnings Wall Street analysts expect $0.17 EPS, up $0.01 or 6.25 % from last year’s $0.16 same quarter earnings. This translates into $16.74M profit for PLNT giving the stock a 39.74 P/E. This is assuming the current $0.17 EPS is accurate. Planet Fitness Inc’s Wall Street analysts see -22.73 % negative EPS growth, taking into account the $0.22 EPS reproted in the previous quarter,

Planet Fitness Inc (NYSE:PLNT) Ratings Coverage

Among 15 analysts covering Planet Fitness (NYSE:PLNT), 14 have Buy rating, 0 Sell and 1 Hold. Therefore 93% are positive. Planet Fitness had 27 analyst reports since August 31, 2015 according to SRatingsIntel. Credit Suisse initiated Planet Fitness Inc (NYSE:PLNT) on Monday, August 31 with “Outperform” rating. The rating was maintained by Imperial Capital on Thursday, February 2 with “Outperform”. Stephens initiated Planet Fitness Inc (NYSE:PLNT) on Thursday, December 3 with “Equal-Weight” rating. The firm has “Overweight” rating given on Monday, June 6 by JP Morgan. The rating was maintained by Imperial Capital with “Outperform” on Thursday, May 12. On Monday, August 31 the stock rating was initiated by Piper Jaffray with “Overweight”. William Blair initiated the shares of PLNT in report on Monday, August 31 with “Outperform” rating. On Friday, August 12 the stock rating was maintained by Wedbush with “Outperform”. The stock has “Outperform” rating by Macquarie Research on Thursday, January 5. The stock of Planet Fitness Inc (NYSE:PLNT) has “Outperform” rating given on Friday, April 7 by Robert W. Baird.

More notable recent Planet Fitness Inc (NYSE:PLNT) news were published by: Fool.com which released: “3 Biggest Opportunities for Planet Fitness, Inc.” on September 07, 2017, also Prnewswire.com with their article: “Join Planet Fitness For A Quarter To Celebrate The Brand’s 25th Anniversary” published on September 08, 2017, Fool.com published: “Why Planet Fitness, Inc. Climbed 12% in August” on September 05, 2017. More interesting news about Planet Fitness Inc (NYSE:PLNT) were released by: Benzinga.com and their article: “Moody’s Gets Pumped About Planet Fitness, Upgrades Outlook” published on August 31, 2017 as well as Prnewswire.com‘s news article titled: “Planet Fitness Offers Reciprocity to All Members Impacted by Hurricane Harvey …” with publication date: September 14, 2017.

Planet Fitness, Inc. is a franchisor and operator of fitness centers in the United States. The company has market cap of $2.66 billion. The Firm operates through three divisions: Franchise; Corporate-owned stores, and Equipment. It has a 47.96 P/E ratio. The Franchise segment includes activities related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.

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