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Planet Fitness, Inc. (PLNT) franchises and operates fitness centers.
It operates through three segments: Franchise, Corporate-owned stores, and Equipment.
The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, and the Dominican Republic.
The Corporate-owned stores segment operates corporate-owned stores in the United States and Canada.
The Equipment segment engages in the sale of fitness equipment to franchisee-owned stores.
The Company's stores are typically over 20,000 square feet, with a selection of purple and yellow Planet Fitness-branded cardio, circuit- and weight-training equipment and staff trainers offering free fitness instruction to members in small groups through its PE@PF program. Its fitness centers are located in urban areas and company uses spaces that were previously used as large box stores or shopping centers.
As of July 18, 2016, the company had 1,100 owned and franchised stores in 47 states, including the District of Columbia, Puerto Rico, the Dominican Republic, and Canada.
Shares have formed a bullish "cup and handle" ahead of its earnings on August 11th after the close. Note that 29.4% of the shares have been shorted. This stock has a short ratio of 4.8 which means 4.8 times its average daily trading volume has been shorted. Should the earnings report comes better than expected, shares should jump higher. Management owns 29.7% of the shares.
52-Weeks Trading Range: $13.23 - $21.06
Entry Point: $20.30
Stop Loss: $19.00
Target Price: $22.40
PLNT closed at $22.60
