Blue Bird (NASDAQ:BLBD) Coverage Initiated at Barclays

Barclays began coverage on shares of Blue Bird (NASDAQ:BLBD) in a research note released on Monday, MarketBeat reports. The firm issued an overweight rating and a $25.00 price objective on the stock.

A number of other analysts have also issued reports on BLBD. Bank of America began coverage on Blue Bird in a research note on Friday, August 18th. They set a buy rating and a $26.50 price objective on the stock. TheStreet upgraded Blue Bird from a d rating to a c- rating in a research report on Tuesday, May 30th. R. F. Lafferty began coverage on Blue Bird in a research report on Wednesday, September 6th. They set a buy rating for the company. Finally, StockNews.com began coverage on Blue Bird in a research report on Thursday, August 17th. They set a buy rating for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $25.88.

Blue Bird Stock Performance

Shares of Blue Bird stock opened at $20.68 on Monday. The business’s fifty day simple moving average is $21.43 and its 200 day simple moving average is $21.31. The firm has a market capitalization of $664.78 million, a P/E ratio of -36.93 and a beta of 1.29. Blue Bird has a 12 month low of $7.14 and a 12 month high of $28.80. The company has a current ratio of 0.92, a quick ratio of 0.33 and a debt-to-equity ratio of 11.13.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.18. The business had revenue of $294.28 million for the quarter, compared to analyst estimates of $300.00 million. Blue Bird had a negative return on equity of 2,698.15% and a negative net margin of 1.65%. As a group, analysts anticipate that Blue Bird will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Blue Bird

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP boosted its holdings in shares of Blue Bird by 113.0% in the 2nd quarter. Quarry LP now owns 1,440 shares of the company’s stock worth $32,000 after purchasing an additional 764 shares in the last quarter. State of Wyoming purchased a new position in shares of Blue Bird in the 2nd quarter worth about $65,000. Point72 Asset Management L.P. purchased a new position in shares of Blue Bird in the 2nd quarter worth about $77,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Blue Bird by 198.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,419 shares of the company’s stock worth $41,000 after purchasing an additional 2,939 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Blue Bird by 325.8% in the 4th quarter. Barclays PLC now owns 4,692 shares of the company’s stock worth $51,000 after purchasing an additional 3,590 shares in the last quarter.

About Blue Bird

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments, Bus and Parts. The company offers Type C, Type D, and specialty buses; and alternative fuel applications through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.