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Planet Fitness CEO: Encouraged by what I'm seeing with reopenings » 18:2205/1405/14/20
In an interview on…
In an interview on CNBC's Mad Money, Chris Rondeau said the COVID-19 pandemic will change the competitive landscape of the gym industry and create a huge advantage for the company. He expects Planet Fitness will be in a much better spot in a year. He noted that landlords and lenders have been very accommodating during the crisis.
Planet Fitness put volume heavy and directionally bearish » 12:5505/1305/13/20
Bearish flow noted in…
Bearish flow noted in Planet Fitness with 5,982 puts trading, or 2x expected. Most active are May-20 50 puts and May-20 45 puts, with total volume in those strikes near 1,900 contracts. The Put/Call Ratio is 4.41, while ATM IV is up over 1 point on the day. Earnings are expected on August 4th.
Roth Capital downgrades Planet Fitness to Neutral on resumption of coverage » 12:1705/1205/12/20
Roth Capital analyst…
Roth Capital analyst George Kelly downgraded Planet Fitness to Neutral from Buy with a price target of $58, down from $75, after assuming coverage of the name. The stock in midday trading is down 6% to $54.80. The shares will remain range-bound until same-store-sales trends firm, says the analyst, who prefers waiting on the sidelines for a better entry point. While Planet Fitness is well positioned to grow market share post-COVID, its near-term outlook is less certain, Kelly writes in a research note. The analyst believes the company's same-store-sales trends "could be choppy" in the near-term with its older members and families at risk of canceling. Consumers may prefer new at-home routines developed under isolation, contends Kelly.
Planet Fitness assumed Neutral from Buy at Roth Capital » 12:1205/1205/12/20
Roth Capital analyst…
Roth Capital analyst George Kelly downgraded Planet Fitness to Neutral from Buy with a price target of $58, down from $75, after assuming coverage of the name.
Planet Fitness price target lowered to $55 from $65 at Wedbush » 08:2705/0605/06/20
Wedbush analyst James…
Wedbush analyst James Hardiman lowered the firm's price target on Planet Fitness to $55 from $65 and keeps a Neutral rating on the shares. The analyst believes that investors are underappreciating just how unattractive gym environments are going to be for many consumers over the next 4-5 quarters. While Planet Fitness is, on a number of different levels, positioned to gain share of traditional gyms both near- and long-term, Street estimates as well as a big snap-back in the stock would seem to assume minimal lingering effects of the coronavirus pandemic, which seams unrealistic, he contends.
Planet Fitness price target raised to $70 from $60 at DA Davidson » 08:1905/0605/06/20
DA Davidson analyst Linda…
DA Davidson analyst Linda Bolton Weiser raised the firm's price target on Planet Fitness to $70 from $60 and keeps a Buy rating on the shares after its Q1 results, with higher EBITDA vs. last year's levels. The analyst also cites the reopening of certain gyms and the ramp up pace being potentially faster than she had anticipated earlier. Weiser adds that membership cancellations in March were immaterial when the crisis hit as she raises her assumed target multiple to 35-times expected FY21 earnings from 30-times prior.
Planet Fitness price target raised to $65 from $50 at Cowen » 07:5405/0605/06/20
Cowen analyst Oliver Chen…
Cowen analyst Oliver Chen raised the firm's price target on Planet Fitness to $65 from $50 and keeps an Outperform rating on the shares. The analyst believes the low cancellation rate and churn, solid franchisee capitalization, and share gain opportunity with digital acceleration and value orientation, continue to position the company well for the long term.
Planet Fitness price target lowered to $75 from $85 at Guggenheim » 07:1105/0605/06/20
Guggenheim analyst John…
Guggenheim analyst John Heinbockel lowered the firm's price target on Planet Fitness to $75 from $85 but keeps a Buy rating on the shares as he believes there will be a resumption of robust growth in 2021, absent a step-up in cancellations, which he views as unlikely. The company's "potent combination" of fitness, value, and franchising should continue to resonate with consumers, Heinbockel argues.
Planet Fitness price target lowered to $65 from $71 at Piper Sandler » 06:0505/0605/06/20
Piper Sandler analyst…
Piper Sandler analyst Peter Keith lowered the firm's price target on Planet Fitness to $65 from $71 and reiterates an Overweight rating on the shares following the company's Q1 results. While the analyst is more bullish on Planet re-opening and long-term market share gains, his earnings estimates for 2020 and 2021 move lower as the company announced it is not requiring franchisees to buy fitness equipment for the next 12 months. However, the company remains a "highly attractive" long-term investment that should continue to build investor confidence with gym re-openings and growing membership trends, Keith tells investors in a research note.
Fly Intel: After-Hours Movers » 18:5605/0505/05/20
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