NEW YORK (TheStreet) -- Why are investors favoring a recently listed gym over a "great American company" like United Technologies (UTX) - Get United Technologies Corporation Report? TheStreet's Jim Cramer asked during CNBC's "Mad Dash" segment Monday.
UTX stock is down about 2% after being downgraded to equal weight from overweight by Barclays's analysts. Cramer, co-manager of the Action Alerts PLUS portfolio, thinks it might have something to do with the industrial company's exposure to China.
Cramer said the stock, at around $91.52, will be more attractive to investors if it falls to the mid- to low-$80s. When it hits that point, investors should buy the stock for the long term, he added.
United Technologies UTX data by YCharts
Meanwhile, the gym, Planet Fitness (PLNT) - Get Planet Fitness, Inc. Class A Report, is a "cash machine," according to Cramer. And yet he is wary of the company, saying it is neither a blue-chip stock nor "a stock investors should be piling in to."
However, he said that right now investors are optimistic about the stock, as are analysts from Jefferies, J.P. Morgan, Bank of America, Piper Jaffray and Credit Suisse.
PLNT, at $17.60, is up nearly 5% Monday and trading above the $16 initial public offering price of earlier this month.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.