Blue Bird Co. (NASDAQ:BLBD) Receives $61.00 Average Target Price from Brokerages

Blue Bird Co. (NASDAQ:BLBD) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $61.00.

A number of brokerages have recently commented on BLBD. Roth Mkm downgraded Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research report on Thursday, October 3rd. Bank of America boosted their price target on shares of Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. DA Davidson increased their price objective on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th.

Insider Activity at Blue Bird

In other news, President Britton Smith sold 2,508 shares of Blue Bird stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the sale, the president now owns 80,617 shares in the company, valued at approximately $4,015,532.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Britton Smith sold 2,508 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total value of $124,923.48. Following the completion of the sale, the president now directly owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phil Horlock sold 32,159 shares of Blue Bird stock in a transaction on Monday, August 26th. The shares were sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the completion of the transaction, the chief executive officer now directly owns 299,812 shares in the company, valued at $14,669,801.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,240 shares of company stock valued at $2,725,146 in the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Blue Bird

A number of institutional investors and hedge funds have recently made changes to their positions in BLBD. Covestor Ltd acquired a new position in Blue Bird in the 1st quarter valued at about $29,000. Macroview Investment Management LLC acquired a new stake in Blue Bird during the 2nd quarter worth approximately $29,000. nVerses Capital LLC purchased a new position in shares of Blue Bird in the 3rd quarter valued at approximately $53,000. Quarry LP increased its holdings in shares of Blue Bird by 43.9% in the second quarter. Quarry LP now owns 1,174 shares of the company’s stock valued at $63,000 after purchasing an additional 358 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Blue Bird by 1,227.7% during the third quarter. Signaturefd LLC now owns 1,580 shares of the company’s stock worth $76,000 after purchasing an additional 1,461 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Price Performance

Shares of BLBD opened at $41.70 on Monday. The company has a market cap of $1.35 billion, a P/E ratio of 13.76, a PEG ratio of 0.21 and a beta of 1.62. Blue Bird has a fifty-two week low of $17.59 and a fifty-two week high of $59.40. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average price is $46.47 and its 200 day moving average price is $48.28.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.42. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. The business had revenue of $333.37 million for the quarter, compared to analysts’ expectations of $330.00 million. During the same period last year, the firm earned $0.42 earnings per share. On average, research analysts forecast that Blue Bird will post 3.22 earnings per share for the current fiscal year.

Blue Bird Company Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.