Weight Watchers leads pop in stocks tied to New Year’s resolutions

By Leia Klingel
Published January 02, 2018
FOXBusiness

Shares of companies associated with New Year’s resolutions were mostly higher on Tuesday, the first trading session of 2018, with Weight Watchers (NYSE:WTW) leading the charge, up over 5% in morning trade.

Weight Watchers, which named music producer DJ Khaled its “social media ambassador” in 2018,  isn’t the only New Year’s resolution-related company seeing positive movement in its shares. On Tuesday, Fitbit (NYSE:FIT), Nutrisystem (NASDAQ:NTRI), and Herbalife (NYSE:HLF) were also higher.

Shares of athletic apparel manufacturer and seller Lululemon (NASDAQ:LULU) gained on Tuesday. While the company could, in theory, be benefiting from increased demand for active wear, according to MarketWatch, on Monday, JPMorgan (NYSE:JPM) analysts raised their price target on the stock significantly, to $87 from $79.

While diet-related companies and even an athletic apparel company were climbing, publicly traded gyms were largely missing out on the upside. Shares of Planet Fitness (NYSE:PLNT) were lower, but a downgrade to hold from buy by Jefferies could be behind the share decline.