Beachbody (NASDAQ:BODI) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Beachbody (NASDAQ:BODI) from a strong-buy rating to a buy rating in a research note published on Saturday.

Other analysts have also issued reports about the company. Canaccord Genuity Group increased their price objective on Beachbody from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Beachbody in a report on Friday, March 27th. Zacks Research upgraded Beachbody from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Finally, Craig Hallum assumed coverage on Beachbody in a report on Monday, March 2nd. They set a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Beachbody Price Performance

Shares of NASDAQ:BODI opened at $13.61 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. Beachbody has a 1 year low of $3.38 and a 1 year high of $16.87. The business has a fifty day simple moving average of $11.36 and a 200 day simple moving average of $9.82. The firm has a market cap of $97.72 million, a price-to-earnings ratio of -28.96 and a beta of 1.11.

Hedge Funds Weigh In On Beachbody

Institutional investors have recently bought and sold shares of the stock. Bard Associates Inc. bought a new position in Beachbody during the fourth quarter valued at about $32,000. Dimensional Fund Advisors LP bought a new position in Beachbody during the first quarter valued at about $111,000. Cruiser Capital Advisors LLC acquired a new stake in shares of Beachbody in the third quarter valued at about $117,000. Jane Street Group LLC bought a new position in shares of Beachbody in the fourth quarter worth about $140,000. Finally, North Star Investment Management Corp. bought a new position in shares of Beachbody in the first quarter worth about $163,000. 74.48% of the stock is currently owned by institutional investors.

Beachbody Company Profile

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.