Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
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 Mar 31, 2024, the company had approximately 19.6 million members and 2,599 stores in all 50 states of the United States, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. As of Dec 31, 2023, about 90% of all franchise stores were owned and operated by a franchisee group.
PLNT is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 8.5% year-over-year for the current fiscal year, with sales growth of 6%.
Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.01 to $2.43 per share. PLNT boasts an average earnings surprise of 7%.
Looking at cash flow, Planet Fitness is expected to report cash flow growth of 27.3% this year; PLNT has generated cash flow growth of 17.3% over the past three to five years.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, PLNT should be on investors' short lists.
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Planet Fitness, Inc. (PLNT) : Free Stock Analysis Report