Jim Cramer’s Game Plan: 17 Stocks in Focus

7. Planet Fitness, Inc. (NYSE:PLNT)

Number of Hedge Fund Holders: 41

Planet Fitness, Inc. (NYSE:PLNT) was mentioned during the episode, and here’s what Mad Money’s host had to say:

“Now, next there’s Planet Fitness. Well, this is one, it’s a puzzle. It’s a puzzle. Many stocks are puzzles. I think young people are more health conscious these days. They’re trying to stay in shape, avoid unhealthy foods, and of course beverages like liquor. Will Planet Fitness verify that thesis? I bet they do.”

Planet Fitness (NYSE:PLNT) franchises and operates fitness centers under its brand and sells fitness equipment to franchisees while also managing corporate-owned locations. As per the company’s provided outlook for the full year 2024, it expects system-wide same-club sales to grow by 4% to 5%, an increase from the prior range of 3% to 5%. Revenue is forecast to rise by 8% to 9%, up from the previous estimate of 4% to 6%.

Planet Fitness (NYSE:PLNT) expects adjusted EBITDA to increase in the 8% to 9% range, compared to the earlier projection of 7% to 9%. Adjusted net income is projected to grow by 8% to 9%, surpassing the earlier forecast of 4% to 6%. Furthermore, adjusted diluted net income per share is expected to increase by 11% to 12%, improving on the earlier range of 7% to 9%.