Needham & Company LLC Has Lowered Expectations for Blue Bird (NASDAQ:BLBD) Stock Price

Blue Bird (NASDAQ:BLBD) had its price objective dropped by research analysts at Needham & Company LLC from $72.00 to $66.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 62.24% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Thursday, October 3rd. Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Bank of America lifted their price objective on shares of Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, DA Davidson lifted their price target on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.14.

Blue Bird Stock Down 2.5 %

Shares of NASDAQ:BLBD opened at $40.68 on Monday. The firm has a market capitalization of $1.32 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.20 and a beta of 1.62. The business has a 50 day simple moving average of $45.87 and a two-hundred day simple moving average of $48.51. Blue Bird has a 1 year low of $17.79 and a 1 year high of $59.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 0.66.

Insider Transactions at Blue Bird

In other Blue Bird 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 value of $124,923.48. Following the transaction, the president now owns 80,617 shares in the company, valued at $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 available at the SEC website. In related news, SVP Ted Scartz sold 2,985 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $48.60, for a total value of $145,071.00. Following the completion of the transaction, the senior vice president now directly owns 51,863 shares of the company’s stock, valued at $2,520,541.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $4,015,532.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 56,240 shares of company stock valued at $2,725,146. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of Blue Bird in the first quarter worth about $688,000. SG Americas Securities LLC raised its position in Blue Bird by 52.2% during the 1st quarter. SG Americas Securities LLC now owns 12,559 shares of the company’s stock worth $482,000 after buying an additional 4,310 shares during the last quarter. Swiss National Bank lifted its stake in Blue Bird by 33.4% during the 1st quarter. Swiss National Bank now owns 63,500 shares of the company’s stock valued at $2,435,000 after acquiring an additional 15,900 shares during the period. Sei Investments Co. purchased a new stake in shares of Blue Bird in the 1st quarter valued at $2,134,000. Finally, Inspire Investing LLC acquired a new stake in shares of Blue Bird in the first quarter worth $359,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.