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Here's Why Planet Fitness (PLNT) is a Strong Growth Stock

Zacks Equity Research
·2 min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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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, 2022, the company had approximately 16.6 million members and 2,353 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. As of Sep 30, 2022, more than 90% of all franchise stores were owned and operated by a franchisee group. As of Sep 30, 2022, no stores were closed owing to COVID-19.

PLNT boasts a Growth Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 93.9% year-over-year for 2022, while Wall Street anticipates its top line to improve by 57.5%.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0 to $1.59 per share. PLNT also boasts an average earnings surprise of 6.6%.

Planet Fitness is also cash rich. The company has generated cash flow growth of 6.7%, and is expected to report cash flow expansion of 122% in 2022.

Investors should take the time to consider PLNT for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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Planet Fitness, Inc. (PLNT) : Free Stock Analysis Report

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Zacks Investment Research