Blue Bird (NASDAQ:BLBD) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Blue Bird (NASDAQ:BLBD) from a hold rating to a buy rating in a report issued on Tuesday morning.

Other equities research analysts have also recently issued reports about the stock. BTIG Research initiated coverage on shares of Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price on the stock. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of Blue Bird in a research note on Friday, December 13th. Bank of America dropped their price target on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Blue Bird currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Stock Down 0.7 %

Blue Bird stock opened at $38.85 on Tuesday. The company has a fifty day simple moving average of $41.64 and a 200 day simple moving average of $46.95. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. Blue Bird has a 1-year low of $24.08 and a 1-year high of $59.40. The company has a market cap of $1.25 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total transaction of $822,244.19. Following the sale, the chief financial officer now owns 89,347 shares of the company’s stock, valued at approximately $3,832,092.83. The trade was a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Blue Bird

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in Blue Bird by 268.0% during the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company’s stock worth $88,330,000 after buying an additional 1,341,259 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Blue Bird by 81.7% in the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock worth $27,432,000 after acquiring an additional 229,004 shares during the period. Millennium Management LLC lifted its stake in shares of Blue Bird by 414.2% in the second quarter. Millennium Management LLC now owns 256,933 shares of the company’s stock worth $13,836,000 after acquiring an additional 206,966 shares during the period. Geode Capital Management LLC boosted its holdings in Blue Bird by 26.2% in the third quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock valued at $36,084,000 after acquiring an additional 156,298 shares during the last quarter. Finally, Barclays PLC increased its position in Blue Bird by 976.5% during the 3rd quarter. Barclays PLC now owns 128,658 shares of the company’s stock valued at $6,171,000 after purchasing an additional 116,707 shares during the period. 93.59% of the stock is currently 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.