Earnings Preview: Planet Fitness Inc

Planet Fitness Inc (NYSE:PLNT) is slated for its first turn in the earnings confessional Wednesday evening

Josh Selway

Sep 1, 2015 at 2:25 PM

PLNT

Exercise concern Planet Fitness Inc (NYSE:PLNT) is slated to release its inaugural earnings report after the bell on Wednesday. The stock has picked up some momentum heading into the event, thanks to a round of bullish analyst attention yesterday. Most notably, Jefferies -- which initiated coverage with a "buy" rating -- set a $25 price target for PLNT.

Even with the shares dodging today's broad-market sell-off -- up 5.6% to $18.81 -- Jefferies' price target represents a 33% premium. Moreover, such a move would mark a new all-time high for PLNT, which topped out at $20.68 on Aug. 10. The shares hit the Street on Aug. 6, opening at $14.50.

While options volume has been extremely light so far on the newcomer, PLNT's near-term at-the-money (ATM) straddle is pricing in a 16.3% swing. So far leading up to the event, call buying has had the edge, with Planet Fitness Inc's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio standing at 1.46.

Follow @Schaeffers

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*