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

The Beachbody Company, Inc. (NASDAQ:BODI) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, 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 12 month price objective among analysts that have covered the stock in the last year is $15.6667.

A number of brokerages recently commented on BODI. Canaccord Genuity Group increased their price target on shares of Beachbody from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Roth Mkm reissued a “neutral” rating and issued a $13.00 price objective on shares of Beachbody in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Beachbody from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Wall Street Zen lowered shares of Beachbody from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Noble Financial reissued an “outperform” rating on shares of Beachbody in a research report on Wednesday, May 13th.

Beachbody Stock Up 2.2%

Shares of NASDAQ:BODI opened at $9.69 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 0.64. Beachbody has a 12 month low of $3.60 and a 12 month high of $16.87. The company has a 50-day moving average price of $11.51 and a 200 day moving average price of $10.70. The company has a market cap of $70.16 million, a price-to-earnings ratio of 14.46 and a beta of 1.01.

Beachbody (NASDAQ:BODI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.32 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 firm had revenue of $54.28 million during the quarter, compared to the consensus estimate of $51.77 million. As a group, equities research analysts predict that Beachbody will post 0.37 earnings per share for the current year.

Institutional Trading of Beachbody

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bard Associates Inc. purchased a new stake in Beachbody in the 4th quarter worth about $32,000. Dimensional Fund Advisors LP purchased a new stake in Beachbody in the 1st quarter worth about $111,000. Cruiser Capital Advisors LLC purchased a new stake in Beachbody in the 3rd quarter worth about $117,000. Jane Street Group LLC purchased a new stake in Beachbody in the 4th quarter worth about $140,000. Finally, North Star Investment Management Corp. purchased a new stake in Beachbody in the 1st quarter worth about $163,000. 74.48% of the stock is owned by hedge funds and other 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.