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

Blue Bird (NASDAQ:BLBD) had its target price increased by equities research analysts at Craig Hallum from $68.00 to $71.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 74.92% from the stock’s current price.

BLBD has been the topic of a number of other reports. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barclays raised 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. Roth Mkm downgraded 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 issued a $66.00 price target on shares of Blue Bird in a research report on Tuesday. Finally, BTIG Research initiated coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.64.

Blue Bird Price Performance

BLBD stock opened at $40.59 on Tuesday. The stock has a 50-day moving average price of $43.76 and a two-hundred day moving average price of $48.64. The company has a market cap of $1.31 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.21 and a beta of 1.62. Blue Bird has a 12-month low of $17.79 and a 12-month high of $59.40. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling

In other news, President Britton Smith sold 2,508 shares of the company’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 sale, the president now directly owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This represents a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC bought a new position in shares of Blue Bird in the 3rd quarter valued at $987,000. Vanguard Group Inc. grew its holdings in Blue Bird by 36.0% in the first 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 period. Public Employees Retirement System of Ohio acquired a new stake in Blue Bird in the 1st quarter valued at $4,000,000. Victory Capital Management Inc. lifted its holdings in shares of Blue Bird by 95.9% in the third quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock valued at $2,504,000 after purchasing an additional 25,563 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of Blue Bird by 360.0% in the 2nd quarter. Algert Global LLC now owns 105,651 shares of the company’s stock worth $5,689,000 after buying an additional 82,681 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.