Town Sports International (CLUB) Lifted to Buy at ValuEngine

Town Sports International (NASDAQ:CLUB) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

CLUB has been the topic of a number of other reports. Zacks Investment Research cut Town Sports International from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. BidaskClub cut Town Sports International from a “strong-buy” rating to a “buy” rating in a report on Friday, August 31st. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $12.00.

NASDAQ CLUB opened at $9.55 on Tuesday. The company has a debt-to-equity ratio of -2.58, a quick ratio of 0.91 and a current ratio of 0.91. Town Sports International has a 12 month low of $5.00 and a 12 month high of $14.85. The company has a market capitalization of $235.20 million, a P/E ratio of -56.18 and a beta of 2.31.

Town Sports International (NASDAQ:CLUB) last posted its quarterly earnings results on Friday, July 27th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). The company had revenue of $112.33 million during the quarter, compared to the consensus estimate of $110.71 million. As a group, equities analysts forecast that Town Sports International will post 0.15 earnings per share for the current year.

In other news, CEO Patrick Walsh acquired 4,301 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were acquired at an average cost of $8.80 per share, with a total value of $37,848.80. Following the acquisition, the chief executive officer now directly owns 1,507,749 shares of the company’s stock, valued at $13,268,191.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Carolyn Spatafora sold 35,584 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $10.14, for a total value of $360,821.76. Following the sale, the chief financial officer now directly owns 165,537 shares in the company, valued at $1,678,545.18. The disclosure for this sale can be found here. 16.00% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Town Sports International in the 2nd quarter valued at $132,000. Laurel Wealth Advisors Inc. bought a new position in Town Sports International in the 1st quarter valued at $148,000. Cubist Systematic Strategies LLC bought a new position in Town Sports International in the 2nd quarter valued at $166,000. Element Capital Management LLC bought a new position in Town Sports International in the 1st quarter valued at $178,000. Finally, Bank of Montreal Can bought a new position in Town Sports International in the 2nd quarter valued at $195,000. Institutional investors own 70.36% of the company’s stock.

About Town Sports International

Town Sports International Holdings, Inc, together with its subsidiaries, owns and operates fitness clubs in the Northeast and Mid-Atlantic regions of the United States. The company's clubs offer special purpose rooms for group fitness classes; and other exercise programs, as well as accommodate cardiovascular and strength-training equipment.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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