Beachbody (NASDAQ:BODI) Rating Lowered to “Hold” at Zacks Research

Beachbody (NASDAQ:BODI) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on BODI. Noble Financial started coverage on Beachbody in a research report on Tuesday, October 28th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a report on Monday, December 29th. Wall Street Zen upgraded shares of Beachbody to a “buy” rating in a research note on Saturday, December 27th. Finally, Canaccord Genuity Group increased their price target on shares of Beachbody from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.00.

Beachbody Stock Performance

Shares of BODI opened at $9.80 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.93. The stock has a market cap of $69.48 million, a P/E ratio of -1.58 and a beta of 1.12. The business’s 50 day moving average price is $10.66 and its 200-day moving average price is $7.55. Beachbody has a 52 week low of $3.38 and a 52 week high of $12.66.

Beachbody (NASDAQ:BODI) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.05. Beachbody had a negative return on equity of 78.72% and a negative net margin of 15.09%.The business had revenue of $59.89 million during the quarter, compared to analysts’ expectations of $55.15 million. Equities research analysts anticipate that Beachbody will post -8.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beachbody

An institutional investor recently bought a new position in Beachbody stock. Cruiser Capital Advisors LLC bought a new position in The Beachbody Company, Inc. (NASDAQ:BODI) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,830 shares of the company’s stock, valued at approximately $117,000. Cruiser Capital Advisors LLC owned 0.28% of Beachbody at the end of the most recent quarter. Institutional investors and hedge funds 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.