Notable Price Action: What’s Next for Planet Fitness Inc After Touching Record High?

Notable Price Action: What's Next for Planet Fitness Inc After Touching Record High?

The stock of Planet Fitness Inc (NYSE:PLNT) reached all time high today, Nov, 10 and still has $38.88 target or 62.00% above today’s $24.00 share price. This indicates more upside for the $2.45 billion company. This technical setup was reported by Barchart.com. If the $38.88 PT is reached, the company will be worth $1.52 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 384,536 shares traded hands. Planet Fitness Inc (NYSE:PLNT) has risen 54.15% since April 8, 2016 and is uptrending. It has outperformed by 48.50% the S&P500.

Planet Fitness Inc (NYSE:PLNT) Ratings Coverage

Out of 14 analysts covering Planet Fitness (NYSE:PLNT), 13 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 93% are positive. Planet Fitness has been the topic of 22 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Roth Capital initiated the shares of PLNT in a report on Monday, January 4 with “Buy” rating. On Friday, August 12 the stock rating was maintained by Wedbush with “Outperform”. Piper Jaffray initiated Planet Fitness Inc (NYSE:PLNT) on Monday, August 31 with “Overweight” rating. The stock of Planet Fitness Inc (NYSE:PLNT) earned “Buy” rating by TH Capital on Monday, January 4. Imperial Capital maintained the stock with “Outperform” rating in Monday, October 31 report. The company was initiated on Monday, August 31 by Credit Suisse. The company was initiated on Monday, August 31 by Bank of America. On Monday, August 31 the stock rating was initiated by JP Morgan with “Overweight”. The firm earned “Outperform” rating on Monday, August 31 by Cowen & Co. On Wednesday, May 11 the stock rating was maintained by Wedbush with “Outperform”.

According to Zacks Investment Research, “Planet Fitness, Inc. franchises and operates fitness centers through its subsidiaries. The company’s operating segments consists of Franchise, Corporate-owned stores and Equipment. It is engaged in licensing and selling franchises under the Planet Fitness trade name, owning and operating fitness centers under the Planet Fitness trade name and selling fitness-related equipment to franchisee-owned stores. Planet Fitness, Inc. is headquartered in Newington, New Hampshire.”

More notable recent Planet Fitness Inc (NYSE:PLNT) news were published by: Fool.com which released: “Strong Same-Store Sales Growth Powers Planet Fitness, Inc. Earnings Higher” on October 28, 2016, also Prnewswire.com with their article: “Planet Fitness, Inc. Announces Third Quarter 2016 Results” published on October 26, 2016, Prnewswire.com published: “Planet Fitness, Inc. Announces Secondary Offering of Class A Common Stock by …” on September 22, 2016. More interesting news about Planet Fitness Inc (NYSE:PLNT) were released by: Prnewswire.com and their article: “Planet Fitness, Inc. Announces Second Quarter 2016 Results” published on August 11, 2016 as well as Fool.com‘s news article titled: “Planet Fitness Inc Stock Up 12% Today: Here’s What’s Happening” with publication date: June 24, 2016.

PLNT Company Profile

Planet Fitness, Inc., incorporated on March 16, 2015, is a franchisor and operator of fitness centers in the United States. The Firm operates through three divisions: Franchise, Corporate-owned stores and Equipment. The Franchise segment includes activities related to its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic. The Corporate-owned stores segment includes activities with respect to all corporate-owned stores throughout the United States and Canada. The Equipment segment includes the sale of equipment to franchisee-owned stores in the United States.

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