Needham & Company LLC Reiterates Buy Rating for Blue Bird (NASDAQ:BLBD)

Needham & Company LLC reaffirmed their buy rating on shares of Blue Bird (NASDAQ:BLBD) in a research report sent to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a $66.00 price target on the stock.

Several other equities analysts have also issued reports on the company. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Thursday, October 3rd. DA Davidson upped their price target on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Bank of America upped their price target on Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Blue Bird has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

Blue Bird Stock Performance

NASDAQ BLBD opened at $40.65 on Tuesday. The company has a 50-day simple moving average of $43.23 and a two-hundred day simple moving average of $48.53. Blue Bird has a 12-month low of $18.33 and a 12-month high of $59.40. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.10 and a beta of 1.62. The company has a quick ratio of 0.66, a current ratio of 1.37 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the sale, the president now owns 80,617 shares in the company, valued at approximately $4,015,532.77. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLBD. National Bank of Canada FI purchased a new stake in shares of Blue Bird during the third quarter valued at approximately $26,000. Macroview Investment Management LLC purchased a new stake in Blue Bird during the 2nd quarter valued at $29,000. Truvestments Capital LLC bought a new stake in shares of Blue Bird in the 3rd quarter worth $35,000. Private Trust Co. NA bought a new stake in shares of Blue Bird in the 3rd quarter worth $38,000. Finally, nVerses Capital LLC purchased a new position in shares of Blue Bird in the third quarter worth $53,000. Hedge funds and other institutional investors 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.