Zacks Research Downgrades Beauty Health (NASDAQ:SKIN) to Hold

Beauty Health (NASDAQ:SKIN) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on SKIN. Roth Capital reiterated a “buy” rating and set a $2.00 target price (down from $2.50) on shares of Beauty Health in a research report on Wednesday, May 20th. Canaccord Genuity Group reduced their price target on shares of Beauty Health from $1.50 to $1.00 and set a “hold” rating for the company in a report on Friday, May 1st. Finally, Weiss Ratings raised shares of Beauty Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.02.

Beauty Health Price Performance

Shares of SKIN opened at $0.76 on Monday. Beauty Health has a 52-week low of $0.55 and a 52-week high of $2.69. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.48 and a current ratio of 1.79. The business’s 50 day moving average price is $0.73 and its two-hundred day moving average price is $0.98. The firm has a market cap of $98.70 million, a PE ratio of -4.48 and a beta of 1.08.

Beauty Health (NASDAQ:SKIN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $64.91 million for the quarter, compared to analysts’ expectations of $66.28 million. Beauty Health had a negative return on equity of 9.38% and a negative net margin of 2.03%. On average, equities analysts anticipate that Beauty Health will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Beauty Health

Several hedge funds and other institutional investors have recently modified their holdings of SKIN. Diversified Trust Co acquired a new position in shares of Beauty Health during the first quarter worth approximately $25,000. Public Employees Retirement System of Ohio bought a new position in shares of Beauty Health in the 3rd quarter worth $26,000. Atom Investors LP acquired a new stake in Beauty Health in the 4th quarter valued at $29,000. CWM LLC grew its position in Beauty Health by 232.8% in the 4th quarter. CWM LLC now owns 22,018 shares of the company’s stock valued at $31,000 after purchasing an additional 15,402 shares during the period. Finally, Franklin Resources Inc. bought a new stake in Beauty Health during the 3rd quarter valued at $31,000. Institutional investors own 93.26% of the company’s stock.

Beauty Health Company Profile

Beauty Health Company (NASDAQ: SKIN) is a U.S.-based consumer wellness and beauty enterprise that integrates device-based and product-based offerings across skin, body and hair wellness categories. The company operates a portfolio of established brands that blend professional and at-home solutions, focusing on innovative formulations and technologies to address a range of beauty and self-care needs. Through its proprietary e-commerce platforms and strategic retail partnerships, Beauty Health seeks to deliver premium experiences and tangible results to a global customer base.

Beauty Health’s brand portfolio includes Sol de Janeiro, known for its award-winning Brazilian Bum Bum Cream body care collection; Elemis, a U.K.-originated professional skin care line distributed in spas and skincare clinics; NuFACE and Dermaflash, two at-home beauty device brands specializing in microcurrent facial toning and gentle exfoliation respectively; and Nutrafol, a legal-strength hair wellness supplement clinically designed to support hair growth.