Beachbody (NASDAQ:BODI) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Beachbody (NASDAQ:BODI) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group increased 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. Noble Financial assumed coverage on shares of Beachbody in a report on Tuesday, October 28th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Beachbody to a “buy” rating in a research note on Saturday, December 27th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Beachbody currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Beachbody Stock Down 1.1%

BODI stock opened at $9.69 on Monday. The firm has a market cap of $68.68 million, a PE ratio of -1.56 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 has a fifty day simple moving average of $10.65 and a 200 day simple moving average of $7.56. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.93.

Beachbody (NASDAQ:BODI) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.05. The business had revenue of $59.89 million for the quarter, compared to analyst estimates of $55.15 million. Beachbody had a negative return on equity of 78.72% and a negative net margin of 15.09%. Sell-side analysts anticipate that Beachbody will post -8.16 EPS for the current fiscal year.

Institutional Trading of Beachbody

A hedge fund recently bought a new stake in Beachbody stock. Cruiser Capital Advisors LLC purchased a new position in shares of The Beachbody Company, Inc. (NASDAQ:BODI) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 19,830 shares of the company’s stock, valued at approximately $117,000. Cruiser Capital Advisors LLC owned approximately 0.28% of Beachbody as of its most recent SEC filing. 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.