Fitness
Planet Fitness added as new long idea at Hedgeye (NYSE:PLNT)
jetcityimage/iStock Editorial via Getty Images
Gym operator Planet Fitness (NYSE:PLNT) was added as a new long idea at Hedgeye.
“Our store and market analysis support a sustained, long-term unit growth opportunity for PLNT,” Hedgeye analysts Brian McGough and Sean Jenkins wrote in a note on Sunday. “Cannibalization risks look minimal and incremental markets look to be as good, if not better, in terms of aggregate demographics relative to the prior base.”
The Hedgeye report comes after Planet Fitness (PLNT) last Tuesday reported Q2 results that beat expectations on the top and bottom line, sending the shares up 6%.
“We vetted comp drivers, including price changes and attrition risk, the growth opportunity of the Black Card membership, and direction trends in competitive intensity, all of which came away as a positive for the company,” the analysts added in the note.
Planet Fitness (PLNT) has short interest of 7.4%.
Why are sports organizations including the NFL and Ligue 1 investing in their own streaming services?
Nebraska Realty joins Lincoln County business community
How 3 friends without any hospitality experience started renting out over 400 tiny homes in remote locations around the world
Brothers, both KU students, debut fall fashion collection at Spencer Art Museum runway show
Drake Maye makes NFL debut in mop-up duty
The Army’s Fitness Test: A Political Battlefield Over Gender Equality
Dying with Dignity: Cape Girardeau woman makes plans to travel overseas to end her life
Texas Business Court judges sworn in at Fort Worth ceremony, but how does it work?
Over 40 area businesses take part in first-ever “New Jobs on the Block” in Wausau
