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

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

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Beachbody in a report on Monday, December 29th. Noble Financial initiated coverage on shares of Beachbody in a report on Tuesday, October 28th. They issued an “outperform” rating for the company. Wall Street Zen upgraded Beachbody to a “buy” rating in a research note on Saturday, December 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of Beachbody from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.00.

Beachbody Stock Performance

BODI traded down $0.11 during trading hours on Monday, hitting $9.69. The stock had a trading volume of 6,009 shares, compared to its average volume of 46,209. 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 $68.70 million, a PE ratio of -1.57 and a beta of 1.12. Beachbody has a 1 year low of $3.38 and a 1 year high of $12.66. The company’s fifty day simple moving average is $10.66 and its 200 day simple moving average is $7.55.

Beachbody (NASDAQ:BODI) last posted its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.05. The firm had revenue of $59.89 million during the quarter, compared to the consensus estimate of $55.15 million. Beachbody had a negative net margin of 15.09% and a negative return on equity of 78.72%. Equities analysts anticipate that Beachbody will post -8.16 earnings per share for the current year.

Institutional Inflows and Outflows

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