Blue Bird (NASDAQ:BLBD) Shares Down 5.1%

Blue Bird Co. (NASDAQ:BLBD) shares traded down 5.1% during mid-day trading on Monday . The company traded as low as $50.54 and last traded at $51.13. 237,885 shares were traded during trading, a decline of 57% from the average session volume of 552,518 shares. The stock had previously closed at $53.85.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Craig Hallum boosted their target price on shares of Blue Bird from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Needham & Company LLC upped their price objective on shares of Blue Bird from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. DA Davidson upped their price objective on shares of Blue Bird from $44.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Roth Mkm upped their price objective on shares of Blue Bird from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Barclays upped their price objective on shares of Blue Bird from $35.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $49.25.

Blue Bird Trading Down 4.8 %

The company’s fifty day moving average is $49.40 and its two-hundred day moving average is $37.46. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 1.23. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 0.44 and a beta of 1.63.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.52. The business had revenue of $345.92 million for the quarter, compared to analysts’ expectations of $315.00 million. Blue Bird had a net margin of 6.36% and a return on equity of 154.10%. On average, research analysts anticipate that Blue Bird Co. will post 2.46 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd purchased a new position in shares of Blue Bird during the 1st quarter valued at approximately $29,000. CWM LLC lifted its position in shares of Blue Bird by 220.1% during the 4th quarter. CWM LLC now owns 1,290 shares of the company’s stock valued at $35,000 after buying an additional 887 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Blue Bird during the 4th quarter valued at approximately $66,000. Virtus Investment Advisers Inc. purchased a new position in shares of Blue Bird during the 1st quarter valued at approximately $120,000. Finally, Victory Capital Management Inc. purchased a new position in Blue Bird in the 4th quarter valued at $89,000. Hedge funds and other institutional investors 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.