Wall Street Zen Downgrades Beachbody (NASDAQ:BODI) to Hold

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

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

Beachbody Price Performance

Beachbody stock opened at $10.33 on Friday. Beachbody has a 12-month low of $4.05 and a 12-month high of $16.87. The firm’s 50-day moving average is $10.21 and its two-hundred day moving average is $10.69. The stock has a market capitalization of $74.79 million, a P/E ratio of 15.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.76 and a quick ratio of 0.64.

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

Institutional Trading of Beachbody

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

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.