William Blair analyst Sharon Zackfia says that as she expected, Planet Fitness raised its Black Card dues for new members by one dollar, to $22.99 per month, with the new price point mentioned in a press release yesterday for a $1 down payment promotion that runs from today through October 11. Since the price increase impacts only new members, the analyst expects it to benefit comps by about 110 basis points in 2020, which she notes will put the full year 2020 Black Card price benefit roughly at parity with 2019, versus a step-down in 2019 versus 2018. Planet's stock has declined about 25% to an enterprise value to EBITDA ratio of 19 times 2020 estimates since reporting Q2, Zackfia tells investors in a research note. r. At a valuation similar to high-quality restaurant franchisors, Planet Fitness is "particularly attractive given a more defensive business model," she says. Zackfia keeps an Outperform rating on the shares.