Blue Bird Co. (NASDAQ:BLBD) Receives $60.64 Average Target Price from Analysts

Blue Bird Co. (NASDAQ:BLBD) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $60.64.

A number of research analysts have weighed in on the stock. BTIG Research began coverage on shares of Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective for the company. StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Roth Mkm downgraded 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. Craig Hallum boosted their price objective on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, DA Davidson increased their target price on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, August 9th.

Insider Buying and Selling

In other news, President Britton Smith sold 2,508 shares of the firm’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 transaction, the president now directly owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is owned by company insiders.

Institutional Trading of Blue Bird

Several large investors have recently bought and sold shares of BLBD. Axxcess Wealth Management LLC purchased a new position in Blue Bird in the 3rd quarter worth approximately $987,000. Vanguard Group Inc. lifted its position in Blue Bird by 36.0% during the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after buying an additional 505,727 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Blue Bird during the first quarter worth $4,000,000. Victory Capital Management Inc. grew its holdings in 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 buying an additional 25,563 shares in the last quarter. Finally, Algert Global LLC increased its stake in shares of Blue Bird by 360.0% in the 2nd quarter. Algert Global LLC now owns 105,651 shares of the company’s stock worth $5,689,000 after acquiring an additional 82,681 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Blue Bird Price Performance

NASDAQ:BLBD opened at $40.65 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.66. The company has a 50 day moving average price of $43.23 and a 200-day moving average price of $48.48. Blue Bird has a 1-year low of $18.33 and a 1-year high of $59.40. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62.

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.