Blue Bird (NASDAQ:BLBD) Upgraded 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 Wednesday.

A number of other research firms have also weighed in on BLBD. Barclays raised their price objective on Blue Bird from $43.00 to $54.00 and gave the company an overweight rating in a research report on Friday, August 9th. DA Davidson lifted their price target on Blue Bird from $66.00 to $67.00 and gave the stock a buy rating in a research report on Friday, August 9th. Bank of America increased their price objective on shares of Blue Bird from $60.00 to $66.00 and gave the company a buy rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $72.00 target price on shares of Blue Bird in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $62.00.

Blue Bird Stock Performance

Shares of BLBD stock opened at $42.94 on Wednesday. The company’s fifty day moving average price is $48.92 and its 200-day moving average price is $47.09. The stock has a market cap of $1.39 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66. Blue Bird has a 12 month low of $17.59 and a 12 month high of $59.40.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. The business had revenue of $333.37 million for the quarter, compared to analysts’ expectations of $330.00 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities analysts expect that Blue Bird will post 3.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Phil Horlock sold 16,080 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.34, for a total transaction of $761,227.20. Following the sale, the chief executive officer now owns 331,971 shares of the company’s stock, valued at $15,715,507.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Ted Scartz sold 2,985 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $48.60, for a total transaction of $145,071.00. Following the completion of the sale, the senior vice president now owns 51,863 shares in the company, valued at approximately $2,520,541.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phil Horlock sold 16,080 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.34, for a total value of $761,227.20. Following the completion of the transaction, the chief executive officer now directly owns 331,971 shares in the company, valued at $15,715,507.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,240 shares of company stock valued at $2,725,146. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Blue Bird

Institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. bought a new stake in Blue Bird during the first quarter valued at approximately $83,817,000. Vanguard Group Inc. boosted its stake in shares of Blue Bird by 36.0% during the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after acquiring an additional 505,727 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Blue Bird by 81.7% during the 2nd quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock valued at $27,432,000 after acquiring an additional 229,004 shares during the period. Boston Partners increased its stake in shares of Blue Bird by 279.5% in the 1st quarter. Boston Partners now owns 415,310 shares of the company’s stock worth $15,587,000 after purchasing an additional 305,868 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Blue Bird by 91.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 329,574 shares of the company’s stock worth $12,636,000 after purchasing an additional 157,468 shares during the period. Institutional investors own 93.59% of the company’s stock.

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.