The Best Fitness & Gym Stocks of 2023

January 17, 2023

In this post, we go into the Top 10 Fitness & Gym Stocks of the year, so far! 
Best Gym & Fitness Stocks

The struggle to get fit is something of a hallmark of this age. We live in a time where food is as readily available as it's ever been and one can order a whole buffet with a push of a button on your phone. Though this is a magnificent achievement of human innovation and technology, it comes with a downside. Weight gain is a serious concern that many experts have termed a "pandemic" in its own right.

The increased availability of food, coupled with the shift towards clerical and intellectually-based work, has led to a sharp rise in obesity which comes with a host of other health problems. This situation was made worse when people were required to stay at home due to the pandemic.

But as the market slowly reopens and returns to normal, there will be a flood of people looking to get back in shape and get healthy. People will flood the gyms and consume all kinds of fitness products -- meaning the companies that sell those kinds of things should expect revenue to go through the roof.

As an investor with an eye on the future, capitalizing on this can lead to very generous returns. Taking up a position that anticipates the boom in gym and fitness stocks can only be a good thing. That's why below, we have listed some of the best fitness and gym stocks for you to buy this year:

1. Foot Locker, Inc. (NYSE: FL)

Market Value: $6.04 Billion

Dynamic Stock Chart for TICKER fl

Foot Locker is an American sportswear and footwear company that has made a name for itself as an all-in-one place to get athletic or exercise clothes for men and women of all ages. Between the end of 2020 to the second quarter of 2021, the company has reported slight gains on its stock prices and net income reaching a comfortable $265 million or $2.52 per share.

They are also proud of their solid balance sheet with only long-term debt of $123 million versus $2.5 billion of equity. There are currently 26 hedge funds investing in the company.

2. WW International Inc. (NASDAQ: WW)

Market Value: $1.53 Billion

Dynamic Stock Chart for TICKER ww

The company was formerly known as Weight Watchers and is a notable provider of various products and services related to weight loss, fitness, mindset, and sleep. Last year, the company reported revenue guidance of approaching $1.6 billion and earnings guidance between $2.15 and $2.40 per fully diluted share.

They are also on this list due to a partnership with Oprah Winfrey which was recently extended to 2025. This endorsement includes Oprah's 2020 Vision: Your Life in Focus tour which began in Florida. There are currently 27 hedge funds invested in the company.

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3. Skechers USA (NYSE:SKX)

Market Value: $7.85 Billion

Dynamic Stock Chart for TICKER skx

Who in the developed world does not know about Skechers? It is an award-winning North American brand that designs and markets lifestyle products known the world over, though they are mainly known as the makers of athletic footwear.

Even with the pandemic, the company still managed to turn in a revenue of $1.301 billion. The company claims evenly sustained growth in domestic and international markets for both wholesale and retail -- having 20% of its international earnings from China alone. And with 28 hedge funds investing in the company as of the end of 2020, there's no doubt that the company is geared to come out of the pandemic with great momentum.

4. Herbalife Nutrition LTD (NYSE: HLF)

Market Value: $5.66 Billion

Dynamic Stock Chart for TICKER hlf

Based in San Francisco, this fitness company is known mainly as a maker and seller of products like trackers, smartwatches, wearables, and alike. They represent an investment in both the fitness and technology market at the same time. By the end of 2020, the company reported a revenue of $364 million, up 5% year-on-year.

With the ongoing acquisition of Alphabet/Google, the company is on its way to greater expansion. There are 32 hedge funds investing in the company.

5. Dick's Sporting Goods, Inc. (NYSE: DKS)

Market Value: $9.80 Billion

Dynamic Stock Chart for TICKER dks

Their store chain offers a wide range of brand-name sporting goods equipment, apparel, and footwear. It is essentially another one of those one-stop-shop stores that people love for their convenience and variety. Performance-wise, the company has done well for itself even during the pandemic. At the beginning of this year, the company reported that earnings per diluted share of $1.84 increased by 179% versus $0.66 per diluted share in the prior year.

As of the first quarter of this year, there are 41 hedge funds investing in the company with a stake worth roughly $626 million.

6. Lululemon Athletica, Inc. (NASDAQ: LULU)

Market Value: $51.78 Billion

Dynamic Stock Chart for TICKER lulu

Lululemon makes apparel inspired by and for use in different types of physical activity. The Vancouver-based company produces and markets technical athletic wear for yoga, running, working out, and alike. Despite the effects the pandemic had on the fitness and gym industry, Lululemon surprised analysts with great reports in 2020. They essentially surpassed projections, showing growth with adjusted earnings per share of $1.16, compared to projections of $0.88 per share.

There are, as of the beginning of this year, 50 hedge funds investing in the company. Their collective stake worth amounts to about $1.2 billion.

7. Planet Fitness, Inc. (NYSE: PLNT)

Market Value: $6.07 Billion

Dynamic Stock Chart for TICKER plnt

Perhaps few fitness companies were hit harder than Planet Fitness was during the pandemic. The owner and operator of a chain of fitness clubs that offer personal training programs, massage facilities, and alike -- restrictions on going out essentially killed the steady stream of income from subscriptions. In 2020, the company reported revenues of $105.4 million, a 36.8% decrease from the same period of 2019.

An investment into Planet Fitness is an investment in its high rebound potential once restrictions are eased up. Once people go back to the gyms and try in earnest to achieve their fitness goals, then we can expect Planet Fitness to see explosions of revenue.

As it stands, about 45 hedge funds are investing a total of $1.5 billion worth of stakes.

8. Peloton Interactive, Inc. (NASDAQ: PTON)

Market Value: $32.24 Billion

Dynamic Stock Chart for TICKER pton

Only founded in 2012, this American company is relatively fresh in the market and deals mainly in the providing of connected, technology-enabled fitness and streaming of classes for members. They are one of the largest interactive fitness platforms in the world with over 2.6 million members

Actually one of the companies that benefited greatly from the pandemic grounding everybody to their homes, the company reported a generated total revenue of $607 million, representing 172% year-on-year growth in 2020.

There are 58 hedge funds investing a stake worth about $3.4 Billion in the company.

9. Dexcom, Inc. (NASDAQ: DXCM)

Market Value: $50.21 Billion

Dynamic Stock Chart for TICKER dxcm

Founded in 1999, this company is quite different from the ones on our list. They mainly develop, manufacture, and distribute continuous glucose monitoring systems for diabetes management -- a serious problem right now both in the US and in the developed world.

Due to this, the company's stocks have remained resilient. During the third quarter of 2020, the company's revenue grew 26% versus the same quarter of 2019 to $500.9 million.

There are currently 58 hedge funds investing in the company with a stake worth roughly about $1.5 billion.

10. Nike, Inc. (NYSE: NKE)

Market Value: $265.63 Billion

Dynamic Stock Chart for TICKER nke

The favored brand of athletes and fitness specialists, the Oregon-based multinational company is a maker of footwear, apparel, equipment, accessories, and services known the world over. Even during the peak of the pandemic last year, the massive company managed to turn in a profit through digital sales which increased by 75%.

They also come out in many lists of the best blue-chip stocks to purchase this year -- an indication of their projected growth once people are allowed to go outside without restrictions.

About 75 hedge funds are investing in the company since the beginning of this year. They have a total stake worth roughly $4.2 billion with Fisher Asset Management being the largest, investing over $820 million

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Bottom Line

And those were the best fitness stocks to purchase this year. Though no one likes working out, there's no doubt that fitness and exercise will be pretty big as soon as restrictions are eased and people return to the gyms in full force. Keeping an eye on this should be a part of your future investments strategy.

As usual, though the stocks listed here are great and have earned many profits for investors in the past, we always temper our suggestions with a few words of advice: research and due diligence is always a trader's best friend when investing money. No matter how good a stock's record might seem, there is always an element of risk in the market. Keep on top of market news and be hands-on with your investment. In doing so, we have no doubt your returns will be robust and healthy.

About the author 

Jenna Lofton, the founder of, has been actively trading stocks and investing for nearly 11 years.

She holds an MBA in Finance, and another in Business Administration, and lives in Staten Island, NY.

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