Beachbody (NASDAQ:BODI) Lowered to Hold Rating by Zacks Research

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

Several other research firms have also recently issued reports on BODI. Wall Street Zen cut Beachbody from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a report on Friday, March 27th. Canaccord Genuity Group upped their price target on Beachbody from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Craig Hallum began coverage on Beachbody in a report on Monday, March 2nd. They issued a “buy” rating and a $15.00 price target on the stock. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.00.

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Beachbody Price Performance

NASDAQ BODI opened at $12.95 on Monday. The stock has a market capitalization of $92.98 million, a P/E ratio of -27.55 and a beta of 1.11. Beachbody has a 1 year low of $3.38 and a 1 year high of $16.87. The business’s fifty day moving average is $11.70 and its two-hundred day moving average is $9.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.74.

Institutional Trading of Beachbody

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in Beachbody during the 1st quarter valued at $111,000. Evernest Financial Advisors LLC acquired a new stake in Beachbody during the 1st quarter valued at $316,000. North Star Investment Management Corp. acquired a new stake in Beachbody during the 1st quarter valued at $163,000. Bard Associates Inc. acquired a new stake in Beachbody during the 4th quarter valued at $32,000. Finally, State Street Corp acquired a new stake in Beachbody during the 4th quarter valued at $166,000. 74.48% of the stock is owned by institutional investors and hedge funds.

Beachbody Company Profile

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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.

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