Blue Bird (NASDAQ:BLBD) Price Target Increased to $65.00 by Analysts at Craig Hallum

Blue Bird (NASDAQ:BLBD) had its price objective increased by Craig Hallum from $54.00 to $65.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on BLBD. Barclays raised their price target on Blue Bird from $35.00 to $43.00 and gave the stock an overweight rating in a report on Friday, May 10th. Roth Mkm upped their price objective on shares of Blue Bird from $40.00 to $43.00 and gave the company a buy rating in a report on Thursday, May 9th. DA Davidson boosted their price objective on Blue Bird from $44.00 to $66.00 and gave the company a buy rating in a report on Monday, May 20th. Finally, Needham & Company LLC boosted their price target on Blue Bird from $44.00 to $52.00 and gave the company a buy rating in a report on Thursday, May 9th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Blue Bird has a consensus rating of Buy and a consensus target price of $49.25.

Blue Bird Price Performance

BLBD opened at $54.54 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. Blue Bird has a 12-month low of $17.59 and a 12-month high of $56.41. The business’s fifty day simple moving average is $39.67 and its 200-day simple moving average is $30.94. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.44 and a beta of 1.40.

Insider Activity

In other news, President Britton Smith sold 6,228 shares of Blue Bird stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $33.49, for a total value of $208,575.72. Following the completion of the transaction, the president now owns 87,250 shares in the company, valued at approximately $2,922,002.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Blue Bird

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd purchased a new stake in shares of Blue Bird during the 1st quarter worth approximately $29,000. Truist Financial Corp lifted its holdings in Blue Bird by 4.8% in the 4th quarter. Truist Financial Corp now owns 18,440 shares of the company’s stock valued at $497,000 after purchasing an additional 842 shares in the last quarter. CWM LLC boosted its position in Blue Bird by 220.1% during the fourth quarter. CWM LLC now owns 1,290 shares of the company’s stock worth $35,000 after acquiring an additional 887 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Blue Bird by 8.0% in the third quarter. Teacher Retirement System of Texas now owns 13,029 shares of the company’s stock valued at $278,000 after purchasing an additional 960 shares during the period. Finally, American International Group Inc. grew its holdings in Blue Bird by 9.5% in the 1st quarter. American International Group Inc. now owns 13,782 shares of the company’s stock valued at $528,000 after buying an additional 1,191 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.