NEW YORK (TheStreet) -- Shares of Planet Fitness (PLNT) - Get Report were spiking 5.81% to $21.50 in after-hours trading on Wednesday after the company reported higher-than-anticipated results for the 2016 third quarter.

After today's market close, the Newington, NH-based fitness center operator posted adjusted earnings of 16 cents per diluted share on revenue of $87 million. Revenue rose 26.4% year-over-year.

Analysts surveyed by FactSet had projected earnings of 14 cents per share on revenue of $79 million.

System-wide same-store sales rose 10% in the period.

The company opened 37 new franchise stores during the quarter, bringing the system-wide total to 1,242 stores as of September 30.

For 2016, Planet Fitness expects adjusted earnings per diluted share between 66 cents and 67 cents on revenue of $373 million to $378 million. Analysts are looking for full-year earnings of 66 cents per share on revenue of $371.5 million, according to FactSet.

More than 930,582 of the company's shares changed hands today vs. its average 30-day volume of 568,762 shares.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.

This is driven by several weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.

Among the areas that are negative, one of the most important has been generally deteriorating net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PLNT

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