Opinions
Jim Cramer - Mad Money
Planet Fitness
PLNT-N
COMMENT
May 07, 2021
Shares exploded in late-February when we started seeing positive vaccine news. Since then, this has pulled back hard thanks to analyst downgrades on valuation concerns. It reported last night a bottom and top line miss, and shares tumbled 4% today. But there was bullish commentary about traffic trends and reopening gyms, plus new investments. This reopening play could be worth buying.
$77.140
Stock price when the opinion was issued
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Planet Fitness is the best gym stock with 2,353 locations in all 50 states, Canada, Mexico, Puerto Rico and Australia. Their franchise model lets them expand quickly, but they earn a lot less per gym. They had a great IPO rally in 2015 through early 2020. Since then, it's been choppy, though rebounding in recent months. Just reported 8.2% same-store sales growth. They target 4,000 locations later. They ultra-cheap memberships and franchise model will shield them from a recession. They can grind higher over time.
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