Beachbody (NASDAQ:BODI) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Beachbody (NASDAQ:BODI) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other research analysts have also issued reports on BODI. Zacks Research lowered shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Canaccord Genuity Group increased their price objective on shares of Beachbody from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Beachbody from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Noble Financial reaffirmed an “outperform” rating on shares of Beachbody in a report on Wednesday, May 13th. Finally, Roth Capital reiterated a “neutral” rating and set a $13.00 target price on shares of Beachbody in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Beachbody Trading Up 3.4%

Shares of Beachbody stock opened at $10.33 on Friday. The stock has a market capitalization of $74.81 million, a P/E ratio of 15.42 and a beta of 1.02. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 0.64. The company has a 50-day simple moving average of $10.21 and a 200 day simple moving average of $10.68. Beachbody has a 12-month low of $4.05 and a 12-month high of $16.87.

Beachbody (NASDAQ:BODI) last posted its earnings results on Tuesday, May 12th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.40. Beachbody had a net margin of 2.21% and a return on equity of 33.74%. The company had revenue of $54.28 million during the quarter, compared to analysts’ expectations of $51.77 million. Research analysts expect that Beachbody will post 0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Beachbody by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock valued at $337,000 after purchasing an additional 1,125 shares during the period. Bard Associates Inc. bought a new position in shares of Beachbody during the fourth quarter worth $32,000. Dimensional Fund Advisors LP bought a new position in shares of Beachbody during the first quarter worth $111,000. Jane Street Group LLC acquired a new position in shares of Beachbody in the 4th quarter valued at $140,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Beachbody in the 1st quarter valued at $163,000. Institutional investors own 74.48% of the company’s stock.

Beachbody Company Profile

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.