Bank of America Cuts Blue Bird (NASDAQ:BLBD) Price Target to $63.50

Blue Bird (NASDAQ:BLBD) had its price target trimmed by Bank of America from $66.00 to $63.50 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on the company. BTIG Research assumed coverage on Blue Bird in a report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of Blue Bird in a research report on Tuesday. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barclays upped their price target on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Roth Mkm lowered shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Blue Bird presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Trading Down 0.2 %

BLBD opened at $40.59 on Tuesday. The firm’s fifty day moving average is $43.51 and its two-hundred day moving average is $48.58. The firm has a market cap of $1.31 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.21 and a beta of 1.62. Blue Bird has a twelve month low of $17.79 and a twelve month high of $59.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40.

Insider Buying and Selling at Blue Bird

In other news, President Britton Smith sold 2,508 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the transaction, the president now directly owns 80,617 shares in the company, valued at $4,015,532.77. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BLBD. Axxcess Wealth Management LLC acquired a new stake in shares of Blue Bird in the 3rd quarter valued at approximately $987,000. Vanguard Group Inc. lifted its stake in Blue Bird by 36.0% in the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock valued at $73,292,000 after acquiring an additional 505,727 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Blue Bird in the first quarter valued at $4,000,000. Victory Capital Management Inc. grew its position in shares of Blue Bird by 95.9% in the 3rd quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock valued at $2,504,000 after acquiring an additional 25,563 shares during the period. Finally, Algert Global LLC increased its stake in shares of Blue Bird by 360.0% during the 2nd quarter. Algert Global LLC now owns 105,651 shares of the company’s stock worth $5,689,000 after purchasing an additional 82,681 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Blue Bird

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.