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Planet Fitness Still In Excellent Shape; Imperial Maintains Outperform Rating

Planet Fitness Still In Excellent Shape; Imperial Maintains Outperform Rating

Imperial Capital maintains its Outperform rating on Planet Fitness Inc (NYSE: PLNT) after the fitness center chain reported solid quarterly results.

Planet Fitness reported fourth-quarter revenue and EBITDA above consensus. The company also guided 2017 revenue consistent with consensus, while EBITDA forecast topped Street.

“We see a lot to like in PLNT; big long-term unit growth potential, steady same-store sales, high incremental margin, and likely de-leveraging. We see added upside should PLNT scale its international operations, raise dues, or add advertising or branded products,” analyst George Kelly wrote in a note.

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Planet Fitness is expanding to Panama in late 2017 and exploring other Latin and South American countries, with Mexico is most likely in the near-term.

Shares of Planet Fitness closed Thursday’s regular trading at $21.17. Kelly has a price target of $24.

Image Credit: By Anthony92931 - Own work, CC BY-SA 3.0, via Wikimedia Commons

Latest Ratings for PLNT

Oct 2019UpgradesIn-LineOutperform
Sep 2019DowngradesBuyHold
Jun 2019Initiates Coverage OnOutperform

View More Analyst Ratings for PLNT
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings Long Ideas News Guidance Price Target Reiteration Analyst Ratings Best of Benzinga


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