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Home » Fitness » Planet Fitness stock jumps as gym-goers return to newly-reopened locations – MarketWatch

Planet Fitness Inc. PLNT, +2.17% stock jumped 8.8% in Tuesday trading after the company's latest business update shows gym-goers are returning to recently reopened locations. Planet Fitness said in a filing that 800 gyms across 30 states were operating as of June 1 with another 200 expected to be open by the middle of the month. At gyms that are back in business, membership levels and visits are consistent with last year. Planet Fitness is cleaning its locations more often, has implemented touchless check-in and some equipment has been marked "out of order" to promote social distancing. "We are encouraged by both the pace and performance of reopenings, and believe Planet Fitness stands to benefit from largely maintaining its prior operating/service model while other concepts have had to more meaningfully adapt," wrote Baird analysts led by Jonathan Komp. Baird rates Planet Fitness stock outperform with a $65 price target. Planet Fitness is scheduled to speak at Baird's Global Consumer, Technology & Services conference, which is scheduled for today. Planet Fitness shares have slipped 1.7% for the year to date while the S&P 500 index SPX, +2.62% has fallen 5.2% for the period.

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Planet Fitness stock jumps as gym-goers return to newly-reopened locations - MarketWatch

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Home » Fitness » Planet Fitness stock jumps as gym-goers return to newly-reopened locations – MarketWatch