Underwhelming Planet Fitness Stock Grabs Fresh Upgrade

PLNT has analyst support despite recent negative price action

Managing Editor
Oct 14, 2019 at 9:09 AM
facebook X logo linkedin

Shares of fitness chain Planet Fitness Inc (NYSE:PLNT) are moving 1.6% higher in pre-market trading, fresh off an upgrade out of Imperial Capital. The brokerage firm upgraded to "outperform" from "in-line," calling the exercise specialist a "best in class" stock. The analyst also cited notable consumer growth.

PLNT has struggled on the charts since touching a record high of $81.76 in mid-June. In fact, the shares dropped as low as $56.14 last week, with the 20-day moving average capping Friday's short-lived breakout attempt. Over the past six months, Planet Fitness stock has shed 18%.

In the options pits, the stock's 10-day put/call volume ratio comes in at 1.61 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks in the 94th annual percentile, meaning puts have been purchased over calls at a faster-than-usual clip during the past two weeks.

Despite PLNT's recent underwhelming price action, 10 of 14 analysts carry a "buy" or better rating coming into today. Plus, the stock's average 12-month price target comes in at $81.82 -- almost 40% above current trading levels.

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI