Blue Bird Co. (NASDAQ:BLBD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Blue Bird Co. (NASDAQ:BLBD) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $60.64.

Several equities research analysts have issued reports on BLBD shares. Craig Hallum increased their target price on Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America cut their target price on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research report on Tuesday. BTIG Research initiated coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, DA Davidson upped 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.

Blue Bird Stock Performance

Shares of BLBD stock opened at $40.59 on Friday. The firm’s 50 day moving average is $43.51 and its 200 day moving average is $48.58. The stock has a market capitalization of $1.31 billion, a P/E ratio of 12.76, a PEG 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 at Blue Bird

In related news, President Britton Smith sold 2,508 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the transaction, the president now owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

A number of institutional investors have recently made changes to their positions in BLBD. FMR LLC grew its holdings in Blue Bird by 268.0% in the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company’s stock worth $88,330,000 after acquiring an additional 1,341,259 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Blue Bird by 36.0% in the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after buying an additional 505,727 shares during the last quarter. Boston Partners increased its stake in shares of Blue Bird by 279.5% during the first quarter. Boston Partners now owns 415,310 shares of the company’s stock valued at $15,587,000 after buying an additional 305,868 shares during the period. 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 acquiring an additional 229,004 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Blue Bird in the second quarter worth $11,788,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.