Planet Fitness Inc. stock rose 1.1% in premarket trade Tuesday, after the operator of fitness centers outlined growth plans ahead of an investor day, pledging to double its member base and accelerate international growth. The Hampton, New Hampshire-based company said it's targeting annual revenue growth in the low-to-mid teen percent rate over the next three years. It's also targeting adjusted per-share earnings growth in the low-to-mid 20% rate with the higher end of the range to be achieved through its recently announced $500 million share buyback program. "We emerged as the clear industry winner coming out of the global pandemic, having entered it from a position of strength at both the franchisor and franchisee levels," said Chris Rondeau, Chief Executive Officer, in a statement. Shares have fallen 20% in the year to date, while the S&P 500 has fallen 17%.
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