Blue Bird (NASDAQ:BLBD) Price Target Raised to $71.00 at Craig Hallum

Blue Bird (NASDAQ:BLBD) had its price target raised by analysts at Craig Hallum from $68.00 to $71.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 65.77% from the company’s current price.

BLBD has been the subject of a number of other research reports. DA Davidson lifted their price objective on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, August 9th. BTIG Research assumed coverage on Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price target for the company. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Bank of America lifted their target price on shares of Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of Blue Bird in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Blue Bird Stock Performance

Shares of BLBD stock traded up $1.65 during trading hours on Tuesday, hitting $42.83. The company’s stock had a trading volume of 1,747,514 shares, compared to its average volume of 614,312. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $44.16 and a 200 day moving average of $48.75. Blue Bird has a 12-month low of $17.79 and a 12-month high of $59.40. The stock has a market cap 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.

Insider Activity at Blue Bird

In related news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the transaction, the president now directly owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blue Bird

A number of hedge funds have recently made changes to their positions in the company. Axxcess Wealth Management LLC purchased a new stake in shares of Blue Bird during the third quarter worth approximately $987,000. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 505,727 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Blue Bird during the first quarter worth $4,000,000. Victory Capital Management Inc. grew its holdings in shares of Blue Bird by 95.9% during the third quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock worth $2,504,000 after buying an additional 25,563 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of Blue Bird by 360.0% in the second quarter. Algert Global LLC now owns 105,651 shares of the company’s stock valued at $5,689,000 after buying an additional 82,681 shares during the last quarter. Institutional investors and hedge funds 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.