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.
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|WTW||WEIGHT WATCHERS INTERNATIONAL||19.71||+0.33||+1.70%|
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.
MAJOR 🔑 ALERT! Today we're welcoming a new member to the #WWFamily, @DJKhaled! We're excited to share in his journey and be his partner as he Freestyles his way to his goals. Join him on his journey: https://t.co/WknkPAVe1c #wwfreestyle #weightwatchers pic.twitter.com/ZTqWn2cFhY— Weight Watchers (@WeightWatchers) January 1, 2018
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.