FitLife Brands (NASDAQ:FTLF) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• FitLife Brands (NASDAQ:FTLF) has been upgraded from a "hold" to a "strong-buy" rating by Zacks Research, indicating increased confidence in the stock's potential.
• Roth Capital raised its price target for FitLife Brands from $20 to $25, supporting the positive outlook, while the company maintains a consensus rating of "Buy" with an average price target of $23.
• In its latest earnings report, FitLife Brands met the consensus EPS estimate of $0.18 and reported revenue slightly below expectations at $16.13 million.

FitLife Brands (NASDAQ:FTLF - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on FTLF. Roth Capital increased their price target on shares of FitLife Brands from $20.00 to $25.00 and gave the company a "buy" rating in a report on Friday, August 15th. Weiss Ratings reiterated a "hold (c+)" rating on shares of FitLife Brands in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $23.00.

FitLife Brands Price Performance

Shares of FTLF opened at $20.06 on Monday. FitLife Brands has a fifty-two week low of $9.83 and a fifty-two week high of $20.27. The company has a market capitalization of $188.36 million, a price-to-earnings ratio of 23.88 and a beta of 0.65. The firm has a 50-day simple moving average of $17.62 and a 200-day simple moving average of $14.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.71.

FitLife Brands (NASDAQ:FTLF - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. FitLife Brands had a net margin of 12.63% and a return on equity of 21.70%. The company had revenue of $16.13 million during the quarter, compared to analysts' expectations of $16.17 million. On average, equities research analysts anticipate that FitLife Brands will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On FitLife Brands

Several hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its holdings in FitLife Brands by 119.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,414 shares of the company's stock valued at $57,000 after acquiring an additional 2,400 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of FitLife Brands by 6,524.2% during the second quarter. Bank of America Corp DE now owns 2,186 shares of the company's stock worth $28,000 after buying an additional 2,153 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of FitLife Brands during the second quarter worth about $28,000. New York State Common Retirement Fund purchased a new stake in shares of FitLife Brands during the second quarter worth about $103,000. Finally, Geode Capital Management LLC grew its holdings in shares of FitLife Brands by 101.4% during the second quarter. Geode Capital Management LLC now owns 90,746 shares of the company's stock worth $1,182,000 after buying an additional 45,690 shares in the last quarter. 2.32% of the stock is currently owned by hedge funds and other institutional investors.

FitLife Brands Company Profile

FitLife Brands, Inc provides nutritional supplements for health-conscious consumers in the United States and internationally. The company provides weight loss, sports nutrition, and general health products; sports nutrition products; weight loss and sports nutrition products; sports nutrition and general wellness formulations with an emphasis on natural, vegan, and organic ingredients; and male health and weight loss products, as well as other diet, health, and sports nutrition supplements and related products; and value-oriented sports nutrition and weight loss products.

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