Needham & Company LLC Reiterates Buy Rating for Blue Bird (NASDAQ:BLBD)

Blue Bird (NASDAQ:BLBD)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $66.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 54.10% from the company’s previous close.

A number of other research firms have also recently weighed in on BLBD. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Thursday, October 3rd. Bank of America upped their price target on Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays increased their price target on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. 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 research report on Friday, August 9th. Finally, BTIG Research started coverage on Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Blue Bird currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.14.

Blue Bird Trading Up 4.0 %

NASDAQ BLBD opened at $42.83 on Tuesday. Blue Bird has a 52 week low of $17.79 and a 52 week high of $59.40. The firm has a 50 day moving average of $44.16 and a two-hundred day moving average of $48.75. The stock has a market capitalization of $1.39 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.20 and a beta of 1.62. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66.

Insider Activity

In other Blue Bird news, President Britton Smith sold 2,508 shares of Blue Bird stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total value of $124,923.48. Following the sale, the president now owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Blue Bird by 36.0% in the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after buying an additional 505,727 shares in the last quarter. FMR LLC increased its position in Blue Bird by 268.0% during the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company’s stock worth $88,330,000 after purchasing an additional 1,341,259 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Blue Bird by 26.2% in the 3rd quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock valued at $36,084,000 after purchasing an additional 156,298 shares in the last quarter. State Street Corp boosted its stake in shares of Blue Bird by 8.4% during the 3rd quarter. State Street Corp now owns 725,573 shares of the company’s stock worth $34,798,000 after purchasing an additional 56,449 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Blue Bird by 0.4% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company’s stock worth $30,499,000 after buying an additional 2,598 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.