Needham & Company LLC Cuts Blue Bird (NASDAQ:BLBD) Price Target to $66.00

Blue Bird (NASDAQ:BLBD) had its target price cut by Needham & Company LLC from $72.00 to $66.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Thursday, October 3rd. Roth Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. BTIG Research began coverage on Blue Bird in a research report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price on the stock. DA Davidson upped their price target on shares of Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.14.

Blue Bird Price Performance

Shares of Blue Bird stock opened at $41.47 on Monday. The firm has a market cap of $1.34 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.20 and a beta of 1.62. 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 simple moving average is $45.71 and its 200-day simple moving average is $48.56. Blue Bird has a twelve month low of $17.79 and a twelve month high of $59.40.

Insider Buying and Selling at Blue Bird

In other news, President Britton Smith sold 2,508 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $48.00, for a total transaction of $120,384.00. Following the transaction, the president now directly owns 83,125 shares in the company, valued at approximately $3,990,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Britton Smith sold 2,508 shares of Blue Bird stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $48.00, for a total transaction of $120,384.00. Following the sale, the president now owns 83,125 shares of the company’s stock, valued at approximately $3,990,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phil Horlock sold 32,159 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $48.93, for a total value of $1,573,539.87. Following the completion of the transaction, the chief executive officer now owns 299,812 shares of the company’s stock, valued at approximately $14,669,801.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,255 shares of company stock valued at $2,580,075 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Blue Bird

Hedge funds have recently made changes to their positions in the stock. Westwood Holdings Group Inc. bought a new position in shares of Blue Bird in the first quarter worth approximately $83,817,000. Vanguard Group Inc. boosted its position in shares of Blue Bird by 36.0% during the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock valued at $73,292,000 after buying an additional 505,727 shares during the last quarter. FMR LLC lifted its stake in Blue Bird by 268.0% during the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company’s stock valued at $88,330,000 after acquiring an additional 1,341,259 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted 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 valued at $30,499,000 after acquiring an additional 2,598 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Blue Bird by 81.7% during the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock valued at $27,432,000 after purchasing an additional 229,004 shares during the last quarter. 93.59% of the stock is owned by 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.