Blue Bird (NASDAQ:BLBD) Upgraded at StockNews.com

by · The Cerbat Gem

Blue Bird (NASDAQ:BLBD – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

BLBD has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Blue Bird in a research note on Tuesday, September 10th. Roth Capital lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. BTIG Research initiated coverage on shares of Blue Bird in a report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price on the stock. Bank of America boosted their price target 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, Roth Mkm lowered shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Blue Bird has an average rating of “Moderate Buy” and an average price target of $61.00.

View Our Latest Analysis on Blue Bird

Blue Bird Trading Up 1.7 %

NASDAQ BLBD traded up $0.73 during trading hours on Tuesday, hitting $43.19. 728,317 shares of the company were exchanged, compared to its average volume of 582,340. Blue Bird has a 52 week low of $17.59 and a 52 week high of $59.40. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $47.16 and a 200 day moving average price of $48.04. The stock has a market cap of $1.39 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 0.21 and a beta of 1.60.

Blue Bird (NASDAQ:BLBD – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. The firm had revenue of $333.37 million during the quarter, compared to analysts’ expectations of $330.00 million. During the same period in the previous year, the company earned $0.42 EPS. Analysts forecast that Blue Bird will post 3.22 earnings per share for the current fiscal year.

Insider Transactions at Blue Bird

In other Blue Bird news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the transaction, the president now directly owns 80,617 shares of the company’s stock, valued at $4,015,532.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the president now owns 80,617 shares in the company, valued at $4,015,532.77. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ted Scartz sold 2,985 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $48.60, for a total value of $145,071.00. Following the completion of the transaction, the senior vice president now directly owns 51,863 shares in the company, valued at approximately $2,520,541.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,240 shares of company stock valued at $2,725,146 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Covestor Ltd acquired a new stake in Blue Bird during the first quarter worth approximately $29,000. Macroview Investment Management LLC purchased a new position in Blue Bird during the 2nd quarter worth approximately $29,000. nVerses Capital LLC purchased a new position in Blue Bird during the 3rd quarter worth approximately $53,000. Quarry LP lifted its stake in Blue Bird by 43.9% in the second quarter. Quarry LP now owns 1,174 shares of the company’s stock valued at $63,000 after buying an additional 358 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Blue Bird by 1,227.7% in the third quarter. Signaturefd LLC now owns 1,580 shares of the company’s stock valued at $76,000 after buying an additional 1,461 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Blue Bird

(Get Free Report)

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.

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