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

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 morning.

Several other brokerages have also recently weighed in on BODI. Weiss Ratings upgraded Beachbody from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Zacks Research lowered shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Canaccord Genuity Group boosted their price objective on shares of Beachbody from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Roth Capital reaffirmed a “neutral” rating and set a $13.00 target price on shares of Beachbody in a report on Wednesday, May 13th. Finally, Noble Financial reaffirmed an “outperform” rating on shares of Beachbody in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Beachbody currently has an average rating of “Moderate Buy” and an average target price of $15.67.

Beachbody Price Performance

Beachbody stock opened at $10.22 on Friday. The firm has a market capitalization of $73.99 million, a P/E ratio of 15.25 and a beta of 1.02. Beachbody has a one year low of $4.05 and a one year high of $16.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.76 and a quick ratio of 0.64. The business has a fifty day moving average price of $10.20 and a 200-day moving average price of $10.69.

Beachbody (NASDAQ:BODI) last released its quarterly earnings data on Monday, August 10th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.26. The company had revenue of $49.61 million for the quarter, compared to analyst estimates of $49.30 million. Beachbody had a return on equity of 33.74% and a net margin of 2.21%. As a group, equities research analysts forecast that Beachbody will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Beachbody

Several institutional investors and hedge funds have recently made changes to their positions in BODI. Bard Associates Inc. bought a new stake in Beachbody in the fourth quarter worth $32,000. Dimensional Fund Advisors LP bought a new position in shares of Beachbody during the first quarter valued at about $111,000. Cruiser Capital Advisors LLC bought a new position in shares of Beachbody during the third quarter valued at about $117,000. Jane Street Group LLC purchased a new position in shares of Beachbody in the fourth quarter worth about $140,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Beachbody in the first quarter worth about $163,000. Institutional investors own 74.48% of the company’s stock.

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.