Zacks Research Upgrades FitLife Brands (NASDAQ:FTLF) to Hold

Key Points

• Zacks Research upgraded FitLife Brands (NASDAQ: FTLF) from a "strong sell" to a "hold," adding to a mixed but slightly more constructive analyst outlook.
• Other coverage remains varied: Lake Street Capital kept a buy rating but cut its price target to $18, while MarketBeat data shows a consensus Moderate Buy with a $21.50 target.
• FitLife Brands recently reported better-than-expected quarterly earnings of $0.17 EPS on revenue of $25.32 million, while shares were trading near $11.06 with a market cap of about $103.9 million.

FitLife Brands (NASDAQ:FTLF - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

FTLF has been the subject of several other reports. Lake Street Capital lowered their price objective on FitLife Brands from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Weiss Ratings downgraded FitLife Brands from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.50.

FitLife Brands Stock Performance

Shares of FTLF stock opened at $11.06 on Tuesday. The stock has a market capitalization of $103.86 million, a PE ratio of 18.31 and a beta of 0.01. The firm has a 50 day moving average of $10.61 and a two-hundred day moving average of $12.57. FitLife Brands has a 52 week low of $8.67 and a 52 week high of $20.98. The company has a quick ratio of 0.49, a current ratio of 1.52 and a debt-to-equity ratio of 0.78.

FitLife Brands (NASDAQ:FTLF - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. FitLife Brands had a return on equity of 18.31% and a net margin of 6.64%.The firm had revenue of $25.32 million during the quarter. On average, research analysts predict that FitLife Brands will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On FitLife Brands

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