Why Planet Fitness (PLNT) is a Top Growth Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Planet Fitness (PLNT)
Planet Fitness, headquartered in Hampton, NH, was formed in 1992. It is one of the leading franchisors and operators of fitness centers in the United States. As of Sep 30, 2023, the company had more than 18.5 million members and 2,498 stores in all 50 states of the United States, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. As of Dec 31, 2022, about 98% of all franchise stores were owned and operated by a franchisee group.
PLNT is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of B. Earnings are expected to grow 34.8% year-over-year for the current fiscal year, with sales growth of 13.6%.
11 analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.04 to $2.21 per share. PLNT also boasts an average earnings surprise of 7.4%.
Looking at cash flow, Planet Fitness is expected to report cash flow growth of 97.7% this year; PLNT has generated cash flow growth of 18.7% over the past three to five years.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, PLNT should be on investors' short lists.
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Planet Fitness, Inc. (PLNT) : Free Stock Analysis Report
