The Beachbody Company, Inc. (NASDAQ:BODI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The Beachbody Company, Inc. (NASDAQ:BODI) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $15.6667.

A number of research firms have recently weighed in on BODI. Zacks Research downgraded shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Noble Financial reaffirmed an “outperform” rating on shares of Beachbody in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Beachbody from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Roth Capital reissued a “neutral” rating and set a $13.00 price objective on shares of Beachbody in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Beachbody from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th.

Beachbody Price Performance

Shares of NASDAQ BODI opened at $11.16 on Wednesday. Beachbody has a fifty-two week low of $3.76 and a fifty-two week high of $16.87. The business has a 50 day moving average price of $10.59 and a two-hundred day moving average price of $10.63. 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 firm has a market cap of $80.80 million, a PE ratio of 16.66 and a beta of 1.01.

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

Institutional Trading of Beachbody

Several hedge funds and other institutional investors have recently bought and sold shares of BODI. Renaissance Technologies LLC raised its stake in Beachbody by 94.9% during the first quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock valued at $1,117,000 after buying an additional 50,095 shares in the last quarter. Evernest Financial Advisors LLC bought a new position in Beachbody during the 1st quarter worth approximately $316,000. Cruiser Capital Advisors LLC acquired a new position in shares of Beachbody in the 3rd quarter worth approximately $117,000. State Street Corp bought a new stake in shares of Beachbody in the 4th quarter valued at approximately $166,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Beachbody in the 1st quarter valued at approximately $163,000. 74.48% of the stock is owned by institutional investors.

About Beachbody

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.