Beachbody (NASDAQ:BODI) Downgraded to Hold Rating by Zacks Research

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

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

Beachbody Trading Down 1.9%

Shares of BODI opened at $9.80 on Monday. Beachbody has a 1-year low of $3.38 and a 1-year high of $12.66. The company has a market capitalization of $69.48 million, a P/E ratio of -1.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.65 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $10.66 and its 200 day simple moving average is $7.55.

Beachbody (NASDAQ:BODI) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $59.89 million during the quarter, compared to analyst estimates of $55.15 million. Sell-side analysts forecast that Beachbody will post -8.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Beachbody stock. Geode Capital Management LLC increased its position in The Beachbody Company, Inc. (NASDAQ:BODI) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,503 shares of the company’s stock after purchasing an additional 1,125 shares during the quarter. Geode Capital Management LLC owned approximately 0.46% of Beachbody worth $337,000 as of its most recent filing with the Securities & Exchange Commission. 74.48% of the stock is currently owned by institutional investors and hedge funds.

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.