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

Shares of Blue Bird Co. (NASDAQ:BLBD) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $60.64.

Several analysts have issued reports on the stock. Bank of America dropped their price target on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Craig Hallum lifted their price target on Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research report on Friday, December 13th. BTIG Research assumed coverage on 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, Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a report on Thursday, October 3rd.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total transaction of $822,244.19. Following the transaction, the chief financial officer now owns 89,347 shares in the company, valued at $3,832,092.83. This represents a 17.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Blue Bird

A number of large investors have recently added to or reduced their stakes in BLBD. Principal Financial Group Inc. lifted its position in shares of Blue Bird by 60.7% during the 3rd quarter. Principal Financial Group Inc. now owns 58,019 shares of the company’s stock valued at $2,783,000 after acquiring an additional 21,919 shares during the period. Lord Abbett & CO. LLC lifted its position in Blue Bird by 2.4% during the third quarter. Lord Abbett & CO. LLC now owns 327,857 shares of the company’s stock worth $15,724,000 after purchasing an additional 7,770 shares during the period. Franklin Resources Inc. grew its stake in Blue Bird by 13.0% during the third quarter. Franklin Resources Inc. now owns 60,329 shares of the company’s stock worth $2,712,000 after buying an additional 6,940 shares in the last quarter. Virtu Financial LLC increased its holdings in Blue Bird by 38.3% in the 3rd quarter. Virtu Financial LLC now owns 15,519 shares of the company’s stock valued at $744,000 after buying an additional 4,295 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Blue Bird in the 3rd quarter valued at approximately $244,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Stock Down 1.4 %

NASDAQ:BLBD opened at $39.44 on Tuesday. Blue Bird has a twelve month low of $24.08 and a twelve month high of $59.40. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $41.15 and its two-hundred day moving average price is $46.54.

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.