Blue Bird (NASDAQ:BLBD) Rating Increased to Buy at StockNews.com

Blue Bird (NASDAQ:BLBD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other research firms have also recently commented on BLBD. Barclays increased 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. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Blue Bird in a report on Tuesday, September 10th. Bank of America boosted their price objective 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, DA Davidson raised their target price on shares of Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $61.17.

Blue Bird Trading Down 3.9 %

Shares of NASDAQ BLBD opened at $46.10 on Wednesday. The company has a market cap of $1.49 billion, a PE ratio of 18.66, a P/E/G ratio of 0.28 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. The firm’s 50 day moving average price is $49.45 and its 200-day moving average price is $46.96. Blue Bird has a 52-week low of $17.59 and a 52-week high of $59.40.

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

Insider Transactions at Blue Bird

In related news, CEO Phil Horlock sold 16,080 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.34, for a total transaction of $761,227.20. Following the completion of the sale, the chief executive officer now directly owns 331,971 shares in the company, valued at $15,715,507.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Phil Horlock sold 16,080 shares of the firm’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 approximately $15,715,507.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Britton Smith sold 2,508 shares of Blue Bird stock in a transaction on Monday, August 19th. The shares were sold at an average price of $48.00, for a total value of $120,384.00. Following the transaction, the president now owns 83,125 shares in the company, valued at $3,990,000. The disclosure for this sale can be found here. Insiders have sold 61,240 shares of company stock worth $2,960,546 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Blue Bird

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macroview Investment Management LLC purchased a new position in Blue Bird during the second quarter valued at approximately $29,000. Covestor Ltd purchased a new position in shares of Blue Bird during the 1st quarter valued at $29,000. Quarry LP boosted its holdings in Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after buying an additional 358 shares during the period. Meeder Asset Management Inc. purchased a new stake in Blue Bird in the 2nd quarter worth $81,000. Finally, Canada Pension Plan Investment Board bought a new stake in Blue Bird during the second quarter valued at about $113,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.