The shares of this fitness center company were just added to the Russell 1000 index. Bank of America and Raymond James say ‘Buy’. Nancy’s note: if you haven’t tried PLNT’s hydro massage chairs, you are missing out!
Planet Fitness, Inc. (PLNT)
From Equity Research & Portfolio Evaluation, Inc.
Planet Fitness, Inc. (PLNT) has flexed its’ muscles the first half of 2019. The company’s stock lifted strongly, outperforming the broad market index. Closing 2018 at $53.62, Planet Fitness stock price gained size in the first half of 2019 to close at $72.01, up over 34.29%, twice the S&P 500. PLNT hit an all-time high of nearly $82 on June 18.
I wrote at year-end that Planet Fitness was the largest, fastest growing franchisers of fitness centers, operating over 1,600 fitness centers with approximately 11 million members in 50 states as well as Puerto Rico in Canada. Today, there are now over 1,800 PF locations. Now, Planet Fitness has more than 13.6 million members.
Newsweek recently ranked Planet Fitness as #1 in customer service among fitness clubs. That has been earned mainly by the fitness company’s friendly and knowledgeable staff, and the company’s mission, “to enhance people and lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®.”
The fundamentals of PLNT remain healthy. With the strength of the brand and its’ financials in solid shape, Planet Fitness is still a buy.
John J. Gardner, Equity Research & Portfolio Evaluation, Inc., www.erpeinc.com, 925-216-4968, June 30, 2019