Beachbody (NASDAQ:BODI) Raised to “Strong-Buy” at Zacks Research

Beachbody (NASDAQ:BODI) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

BODI has been the topic of a number of other research reports. Craig Hallum began coverage on shares of Beachbody in a report on Monday, March 2nd. They issued a “buy” rating and a $15.00 price objective on the stock. Canaccord Genuity Group boosted their target price on shares of Beachbody from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of Beachbody from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Beachbody has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Beachbody Price Performance

Shares of NASDAQ BODI opened at $11.70 on Monday. Beachbody has a 1-year low of $3.38 and a 1-year high of $12.66. The firm has a market capitalization of $82.95 million, a PE ratio of -24.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.74 and a quick ratio of 0.63. The business’s fifty day moving average price is $9.71 and its two-hundred day moving average price is $8.26.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bard Associates Inc. acquired a new position in shares of Beachbody during the fourth quarter valued at approximately $32,000. Jane Street Group LLC acquired a new stake in Beachbody in the fourth quarter worth approximately $140,000. State Street Corp bought a new position in Beachbody during the 4th quarter valued at $166,000. Cruiser Capital Advisors LLC bought a new position in Beachbody during the 3rd quarter valued at $117,000. Finally, Geode Capital Management LLC increased its position in shares of Beachbody by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock valued at $337,000 after purchasing an additional 1,125 shares during the period. Institutional investors and hedge funds own 74.48% of the company’s stock.

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.