Town Sports International (NASDAQ:CLUB) Downgraded to “Sell” at Zacks Investment Research

Town Sports International (NASDAQ:CLUB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “TOWN SPORTS INTERNATIONAL, INC. health club company is the largest in the Northeastern United States. TSI owns and operates the Sports Clubs Network of clubs, which includes New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs. There are also three locations in Switzerland: the Forum and the Joggeli Fitness Clubs in Basel and the Luxor Club in Zurich. All Sports Clubs locations offer a multitude of options for everyone, including a wide range of group exercise and fitness programs. Select facilities also offer racquet sports, pools, basketball courts and other recreational activities. All Clubs are fully equipped with tons of strength training equipment, cardiovascular machines and other exercise equipment. Additional services such as personal training, massage, steam room and sauna, Sports Clubs for Kids and fitness assessments are also available. “

A number of other analysts have also recently issued reports on the company. ValuEngine raised Town Sports International from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet lowered Town Sports International from a “c-” rating to a “d” rating in a research report on Wednesday, May 22nd. Finally, Imperial Capital restated an “outperform” rating and set a $5.50 price objective (down previously from $11.00) on shares of Town Sports International in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $5.50.

NASDAQ:CLUB traded down $0.03 on Thursday, reaching $1.35. The stock had a trading volume of 125,700 shares, compared to its average volume of 138,656. The firm’s fifty day moving average is $1.74 and its two-hundred day moving average is $3.55. Town Sports International has a 12-month low of $1.11 and a 12-month high of $10.20.

Town Sports International (NASDAQ:CLUB) last issued its quarterly earnings results on Thursday, July 25th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Town Sports International had a negative return on equity of 0.10% and a negative net margin of 1.12%. The business had revenue of $118.70 million for the quarter, compared to analyst estimates of $119.57 million. On average, equities research analysts forecast that Town Sports International will post -0.22 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC bought a new position in Town Sports International in the second quarter valued at $29,000. Jefferies Group LLC bought a new stake in Town Sports International in the 2nd quarter worth approximately $39,000. Alambic Investment Management L.P. grew its position in shares of Town Sports International by 115.3% during the 2nd quarter. Alambic Investment Management L.P. now owns 24,362 shares of the company’s stock valued at $53,000 after acquiring an additional 13,045 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Town Sports International during the 2nd quarter valued at $65,000. Finally, SG Americas Securities LLC bought a new stake in shares of Town Sports International during the 2nd quarter valued at $80,000. 67.79% of the stock is currently owned by institutional investors and hedge funds.

Town Sports International Company Profile

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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