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Lance Dolphin
Lance Dolphin

Buy Planet Fitness Stock

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The maker of innovative exercise equipment, a darling on Wall Street during the depths of the coronavirus pandemic in 2020, reported a year-over-year revenue decline of 28%, as well as a massive net loss of $1.2 billion, in its fiscal 2022 fourth quarter. The stock fell 18% on the day of the financial release and is down 70% on the year.

While Peloton's intense struggles continue as management tries to implement a turnaround plan, a rival business is back to hitting its stride. Here's why Planet Fitness (PLNT 1.25%), whose shares have climbed more than 200% over the past five years, might be the best fitness stock to buy right now.

While Planet Fitness's business is firing on all cylinders -- increasing revenue, members, and the store count at a healthy clip -- its shares do not look like a bargain right now. The stock is trading at a price-to-earnings ratio of more than 105 and a price-to-sales multiple of nearly nine. Nonetheless, Planet Fitness appears to be a safer investment in the fitness industry than Peloton, which has undoubtedly received far more attention.

This optimism is probably fully priced into the stock today. But for investors looking to put some money to work, Planet Fitness is a top option when it comes to fitness stocks. I think practicing some patience and waiting for a pullback is the best move at the moment.

You'll need to transfer money into your new brokerage account before you can buy the stock. Transferring via a bank transfer is recommended and the most common way to fund an account. Some brokers might allow funding via a debit or credit card.

Once that you've found Planet Fitness on your broker, submit a purchase order to buy shares of the stock (currently $77.67 a share). Depending on when you purchase, the stock might be higher or lower than the price listed. You may also be able to purchase fractional shares depending on your broker.

In the past three months, Planet Fitness insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $15,491.00 in company stock.

Planet Fitness, Inc. engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company's franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia. The Corporate-Owned Stores segment comprises operations with respect to all Corporate-owned stores throughout the United States and Canada. The Equipment segment involves the sale of equipment to franchisee-owned stores. The company was founded by Michael Grondahl and Marc Grondahl in 1992 and is headquartered in Hampton, NH.

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The current consensus among 17 polled investment analysts is to Buy stock in Planet Fitness Inc. This rating has held steady since February, when it was unchanged from a Buy rating.Move your mouse over pastmonths for detail

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc.2019. All rights reserved. Chicago Mercantile Association: Certain market data is the property of


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