Could Planet Fitness, Inc. (PLNT) Lose its Strength? The Stock Reaches 52-Week High

July 13, 2018 - By Russell Jones

Planet Fitness, Inc. (NYSE:PLNT) Logo

The stock of Planet Fitness, Inc. (NYSE:PLNT) hit a new 52-week high and has $51.16 target or 6.00 % above today’s $48.26 share price. The 9 months bullish chart indicates low risk for the $4.75B company. The 1-year high was reported on Jul, 13 by Barchart.com. If the $51.16 price target is reached, the company will be worth $284.94M 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.

The stock increased 1.60% or $0.7616 during the last trading session, reaching $48.2616. About 669,743 shares traded. Planet Fitness, Inc. (NYSE:PLNT) has risen 80.91% since July 13, 2017 and is uptrending. It has outperformed by 68.34% the S&P500.

Analysts await Planet Fitness, Inc. (NYSE:PLNT) to report earnings on August, 8. They expect $0.31 earnings per share, up 40.91 % or $0.09 from last year’s $0.22 per share. PLNT’s profit will be $30.50M for 38.92 P/E if the $0.31 EPS becomes a reality. After $0.27 actual earnings per share reported by Planet Fitness, Inc. for the previous quarter, Wall Street now forecasts 14.81 % EPS growth.

More recent Planet Fitness, Inc. (NYSE:PLNT) news were published by: Nasdaq.com which released: “Multiple Deals Make Pandora Stock a Solid Buy over the Next Year” on June 27, 2018. Also Streetinsider.com published the news titled: “Berenberg Starts Planet Fitness (PLNT) at Buy, Says Co. is Clearly on of the More Unique Growth Concepts in the US …” on June 20, 2018. Fool.com‘s news article titled: “Can Planet Fitness Stock Keep Hitting New All-Time Highs?” with publication date: June 25, 2018 was also an interesting one.

Planet Fitness, Inc., through its subsidiaries, franchises and operates fitness centers. The company has market cap of $4.75 billion. It operates through three divisions: Franchise, Corporate-Owned Stores, and Equipment. It has a 92.63 P/E ratio. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, and the Dominican Republic.

Planet Fitness, Inc. (NYSE:PLNT) Ratings Chart

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