Blue Bird (NASDAQ:BLBD) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Blue Bird (NASDAQ:BLBD) from a hold rating to a buy rating in a report issued on Tuesday morning.

Several other equities research analysts also recently weighed in on BLBD. Craig Hallum lifted their price target on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BTIG Research assumed coverage on Blue Bird in a research report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price for the company. Bank of America cut their price target on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of Blue Bird in a report on Friday, December 13th. Finally, Roth Capital lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

Blue Bird Stock Performance

Shares of BLBD stock opened at $38.85 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. Blue Bird has a 52 week low of $24.08 and a 52 week high of $59.40. The firm has a 50 day moving average of $41.64 and a 200-day moving average of $46.95. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59.

Insider Buying and Selling at Blue Bird

In other news, CFO Razvan Radulescu sold 19,171 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total value of $822,244.19. Following the transaction, the chief financial officer now owns 89,347 shares in the company, valued at $3,832,092.83. The trade was a 17.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

Institutional investors and hedge funds have recently modified their holdings of the business. National Bank of Canada FI bought a new stake in Blue Bird in the third quarter worth about $26,000. Truvestments Capital LLC purchased a new position in Blue Bird in the third quarter valued at approximately $35,000. Private Trust Co. NA bought a new position in Blue Bird during the third quarter valued at $38,000. nVerses Capital LLC purchased a new stake in Blue Bird in the third quarter worth $53,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Blue Bird in the third quarter valued at $56,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.