Here's Why Planet Fitness (PLNT) is a Strong Growth Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Planet Fitness (PLNT)
Planet Fitness, headquartered in Hampton, NH, was formed in 1992. It is one of the leading franchisors and operators of fitness centers in the United States. As of Mar 31, 2024, the company had approximately 19.6 million members and 2,599 stores in all 50 states of the United States, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. As of Dec 31, 2023, about 90% of all franchise stores were owned and operated by a franchisee group.
PLNT boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 8.5% year-over-year for 2024, while Wall Street anticipates its top line to improve by 6%.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0 to $2.43 per share. PLNT also boasts an average earnings surprise of 9.8%.
On a historic basis, Planet Fitness has generated cash flow growth of 17.3%, and is expected to report cash flow expansion of 27.3% this year.
PLNT should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
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Planet Fitness, Inc. (PLNT) : Free Stock Analysis Report