William Blair analyst Sharon Zackfia has maintained their bullish stance on PLNT stock, giving a Buy rating on July 22.
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Sharon Zackfia’s rating is based on several positive indicators for Planet Fitness. The company is expected to deliver low-double-digit growth in earnings per share (EPS) and maintain healthy midsingle-digit comparable sales growth in the second quarter. This projection is slightly ahead of consensus expectations, particularly due to anticipated growth in the equipment segment, which is expected to see an 18% increase in sales.
Despite a projected contraction in EBITDA margins by 60 basis points, the overall financial outlook remains strong with an expected EPS growth of 11%, aligning with market consensus. The company is also expected to achieve a comparable sales growth of approximately 5.9%, driven by a combination of member growth and other factors. These elements collectively support a positive outlook for Planet Fitness, justifying the Buy rating.
In another report released on July 22, TD Cowen also maintained a Buy rating on the stock with a $135.00 price target.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PLNT in relation to earlier this year.