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 research report sent to investors on Tuesday.

Other equities research analysts also recently issued research reports about the company. Roth Capital downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Barclays lifted their price objective on shares of 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 upped their target price on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America lifted their price target on Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Blue Bird in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Blue Bird has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Blue Bird Price Performance

NASDAQ BLBD opened at $42.07 on Tuesday. The firm’s 50 day moving average is $46.85 and its 200-day moving average is $48.01. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.36 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.21 and a beta of 1.60. Blue Bird has a 12-month low of $17.59 and a 12-month high of $59.40.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.43 by $0.42. The firm had revenue of $333.37 million for the quarter, compared to analysts’ expectations of $330.00 million. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. During the same period in the previous year, the firm posted $0.42 EPS. Equities research analysts anticipate that Blue Bird will post 3.22 earnings per share for the current fiscal year.

Insider Transactions at Blue Bird

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

Hedge Funds Weigh In On Blue Bird

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. bought a new stake in Blue Bird during the first quarter worth about $83,817,000. Vanguard Group Inc. lifted its holdings 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 period. Boston Partners boosted its position in shares of Blue Bird by 279.5% during the 1st quarter. Boston Partners now owns 415,310 shares of the company’s stock worth $15,587,000 after acquiring an additional 305,868 shares in the last quarter. Renaissance Technologies LLC increased its stake in Blue Bird by 81.7% in the second 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 last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Blue Bird during the second quarter valued at approximately $11,788,000. 93.59% of the stock is 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.