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Is Planet Fitness (PLNT) Stock Outpacing Its Consumer Discretionary Peers This Year?

Zacks Equity Research
The Trade Desk (TTD) closed at $248.16 in the latest trading session, marking a +1.68% move from the prior day.

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Planet Fitness (PLNT) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.

Planet Fitness is one of 246 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PLNT is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for PLNT's full-year earnings has moved 7.77% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, PLNT has gained about 32.82% so far this year. Meanwhile, the Consumer Discretionary sector has returned an average of 18.45% on a year-to-date basis. This shows that Planet Fitness is outperforming its peers so far this year.

Looking more specifically, PLNT belongs to the Leisure and Recreation Services industry, a group that includes 29 individual stocks and currently sits at #53 in the Zacks Industry Rank. On average, this group has gained an average of 14.45% so far this year, meaning that PLNT is performing better in terms of year-to-date returns.

Investors with an interest in Consumer Discretionary stocks should continue to track PLNT. The stock will be looking to continue its solid performance.


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