Blue Bird (NASDAQ:BLBD) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a report published on Monday morning.

Several other brokerages have also issued reports on BLBD. Craig Hallum boosted their price objective on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Roth Mkm downgraded shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a report on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research note on Friday, December 13th. Finally, BTIG Research began coverage on Blue Bird in a research note on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.64.

Blue Bird Price Performance

BLBD stock opened at $42.75 on Monday. Blue Bird has a 52-week low of $24.08 and a 52-week high of $59.40. The business has a fifty day moving average of $41.89 and a two-hundred day moving average of $47.36. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56.

Insiders Place Their Bets

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total value of $822,244.19. Following the sale, the chief financial officer now owns 89,347 shares of the company’s stock, valued at $3,832,092.83. This trade represents a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

A number of large investors have recently made changes to their positions in the company. National Bank of Canada FI acquired a new position in Blue Bird during the 3rd quarter worth approximately $26,000. Macroview Investment Management LLC acquired a new position in shares of Blue Bird during the second quarter worth $29,000. Truvestments Capital LLC purchased a new position in Blue Bird in the third quarter valued at $35,000. Private Trust Co. NA purchased a new position in Blue Bird in the third quarter valued at $38,000. Finally, nVerses Capital LLC acquired a new stake in Blue Bird in the third quarter valued at $53,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.