Planet Fitness Stock News

HAMPTON, N.H. , Dec. 30, 2024 /PRNewswire/ -- Planet Fitness, Inc. (NYSE: PLNT) (the "Company"), today announced that the Company is participating in an upcoming investor conference.

Planet Fitness, Inc. (PLNT) is growing fast thanks to Big Money buying.

Planet Fitness (PLNT) shares advanced Tuesday after Jefferies research analysts called it the “Walmart of Gyms,” pointing to the fitness chain's large size and low prices as the company is seen benefiting from Americans seeking to be healthier and from raising its membership prices.

Planet Fitness (PLNT -1.72%) made investors happy when it reported better-than-expected financial results for the three-month period that ended Sept. 30. Shares have soared 27% since the start of November, following positive momentum for the overall market.

The stock market has been on a tear, thanks to a resilient macro backdrop. The prospects of lower interest rates and stronger economic growth might be adding to the tailwinds.

Planet Fitness lost a bid in bankruptcy court to acquire Blink Holdings. U.K.-based private gym chain PureGym won its bid to acquire Blink and its assets, including 60 of its gyms in New York and New Jersey.

Sales are growing faster than expected, putting to rest the concerns of some investors.

Planet Fitness, Inc. has shown strong growth with Q3 revenues up 5.3% and adjusted EBITDA rising to $123.1 million, despite slower equipment sales. The company's franchise and subscription model remains robust, with 21 new stores opened in Q3, emphasizing the need for international expansion. Concerns about debt persist, with net debt-to-adjusted EBITDA leverage at 4.5X, but the company's incre...