Blue Bird (NASDAQ:BLBD) Shares Gap Down on Analyst Downgrade

Blue Bird Co. (NASDAQ:BLBD)’s stock price gapped down prior to trading on Tuesday after Bank of America lowered their price target on the stock from $66.00 to $63.50. The stock had previously closed at $42.83, but opened at $38.87. Bank of America currently has a buy rating on the stock. Blue Bird shares last traded at $41.22, with a volume of 1,461,827 shares.

Several other brokerages have also commented on BLBD. Craig Hallum increased 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. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research report on Tuesday. BTIG Research began coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They set a “buy” rating and a $55.00 price target on the stock. DA Davidson increased their target price 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. Finally, Roth Mkm lowered shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Insider Transactions at Blue Bird

In other Blue Bird news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction that occurred 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 owns 80,617 shares of the company’s stock, valued at $4,015,532.77. This represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Blue Bird

Hedge funds have recently made changes to their positions in the business. Quarry LP lifted its stake in Blue Bird by 43.9% in the second quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after acquiring an additional 358 shares during the period. Savant Capital LLC boosted its stake in shares of Blue Bird by 3.4% during the 2nd quarter. Savant Capital LLC now owns 11,473 shares of the company’s stock valued at $618,000 after purchasing an additional 382 shares in the last quarter. Macroview Investment Management LLC purchased a new position in shares of Blue Bird during the second quarter valued at about $29,000. National Bank of Canada FI bought a new position in Blue Bird in the third quarter worth about $26,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Blue Bird by 22.5% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,325 shares of the company’s stock worth $179,000 after buying an additional 610 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Stock Down 0.2 %

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 company’s fifty day simple moving average is $43.76 and its 200 day simple moving average is $48.64. The firm has a market capitalization 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 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.