Brokerages Set Blue Bird Co. (NASDAQ:BLBD) Price Target at $34.58

Blue Bird Co. (NASDAQ:BLBDGet Free Report) has received an average rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $34.58.

Several research firms have commented on BLBD. StockNews.com cut shares of Blue Bird from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 2nd. Barclays raised their price objective on shares of Blue Bird from $25.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Roth Mkm boosted their target price on Blue Bird from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Needham & Company LLC initiated coverage on Blue Bird in a research note on Thursday, February 29th. They set a “buy” rating and a $44.00 price target for the company.

Read Our Latest Report on Blue Bird

Insider Buying and Selling

In related news, CEO Phil Horlock sold 50,000 shares of Blue Bird stock in a transaction on Monday, January 29th. The stock was sold at an average price of $29.00, for a total value of $1,450,000.00. Following the transaction, the chief executive officer now directly owns 449,812 shares in the company, valued at approximately $13,044,548. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Britton Smith sold 6,228 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $33.49, for a total transaction of $208,575.72. Following the sale, the president now owns 87,250 shares in the company, valued at $2,922,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phil Horlock sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $29.00, for a total transaction of $1,450,000.00. Following the completion of the transaction, the chief executive officer now directly owns 449,812 shares of the company’s stock, valued at approximately $13,044,548. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,257,597 shares of company stock worth $139,735,973. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

A number of hedge funds have recently modified their holdings of BLBD. Sei Investments Co. lifted its position in Blue Bird by 3.6% in the 1st quarter. Sei Investments Co. now owns 11,290 shares of the company’s stock worth $231,000 after buying an additional 390 shares in the last quarter. Comerica Bank grew its stake in Blue Bird by 17.7% in the fourth quarter. Comerica Bank now owns 4,181 shares of the company’s stock valued at $113,000 after purchasing an additional 628 shares in the last quarter. Rhumbline Advisers increased its position in Blue Bird by 2.9% in the 1st quarter. Rhumbline Advisers now owns 22,464 shares of the company’s stock worth $459,000 after purchasing an additional 633 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Blue Bird by 2.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 29,037 shares of the company’s stock worth $593,000 after purchasing an additional 732 shares in the last quarter. Finally, Quarry LP raised its position in Blue Bird by 113.0% during the second quarter. Quarry LP now owns 1,440 shares of the company’s stock valued at $32,000 after acquiring an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Blue Bird Stock Performance

Shares of BLBD stock opened at $33.94 on Thursday. Blue Bird has a 12-month low of $17.37 and a 12-month high of $39.01. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.30 and a quick ratio of 0.54. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 0.48 and a beta of 1.36. The business has a 50 day simple moving average of $34.30 and a 200 day simple moving average of $26.80.

Blue Bird (NASDAQ:BLBDGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.52. The company had revenue of $317.66 million during the quarter, compared to analysts’ expectations of $265.00 million. Blue Bird had a return on equity of 223.85% and a net margin of 5.04%. On average, equities research analysts anticipate that Blue Bird will post 1.87 EPS for the current year.

Blue Bird Company Profile

(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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Analyst Recommendations for Blue Bird (NASDAQ:BLBD)

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