Beachbody (NASDAQ:BODI) Cut to “Hold” at Wall Street Zen

Beachbody (NASDAQ:BODI) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

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

Beachbody Price Performance

BODI opened at $8.76 on Friday. The firm has a market cap of $63.42 million, a P/E ratio of 13.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.64 and a current ratio of 0.76. The business has a 50 day moving average price of $11.59 and a 200 day moving average price of $10.71. Beachbody has a twelve month low of $3.51 and a twelve month high of $16.87.

Beachbody (NASDAQ:BODI) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.32 earnings per share for the quarter, topping 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 business had revenue of $54.28 million during the quarter, compared to analysts’ expectations of $51.77 million. Research analysts forecast that Beachbody will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BODI. Renaissance Technologies LLC increased its holdings in Beachbody by 94.9% during the 1st quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock valued at $1,117,000 after purchasing an additional 50,095 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Beachbody by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock worth $337,000 after acquiring an additional 1,125 shares during the last quarter. Evernest Financial Advisors LLC acquired a new stake in shares of Beachbody in the first quarter valued at approximately $316,000. Cruiser Capital Advisors LLC bought a new position in Beachbody in the 3rd quarter worth approximately $117,000. Finally, State Street Corp bought a new position in Beachbody in the 4th quarter worth approximately $166,000. 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.