Brokerages Set Blue Bird Co. (NASDAQ:BLBD) Target Price at $60.64

Blue Bird Co. (NASDAQ:BLBD - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $60.64.

A number of research analysts have recently issued reports on BLBD shares. StockNews.com raised Blue Bird from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Bank of America decreased their target price on shares of Blue Bird from $66.00 to $63.50 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Craig Hallum lifted their price objective on Blue Bird from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Roth Capital cut Blue Bird from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of Blue Bird in a research report on Tuesday.

Blue Bird Stock Down 3.3 %

Shares of BLBD traded down $1.39 on Friday, hitting $40.96. 671,992 shares of the stock traded hands, compared to its average volume of 506,692. Blue Bird has a one year low of $24.44 and a one year high of $59.40. The company has a market capitalization of $1.32 billion, a PE ratio of 12.88, a P/E/G ratio of 1.05 and a beta of 1.58. The business has a 50 day simple moving average of $40.58 and a 200 day simple moving average of $45.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 1.37.

Insider Transactions at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of Blue Bird stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total value of $822,244.19. Following the sale, the chief financial officer now directly owns 89,347 shares in the company, valued at approximately $3,832,092.83. The trade was a 17.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BLBD. Axxcess Wealth Management LLC purchased a new position in Blue Bird during the 3rd quarter valued at $987,000. Charles Schwab Investment Management Inc. increased its position in shares of Blue Bird by 34.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 308,253 shares of the company's stock worth $14,784,000 after purchasing an additional 79,129 shares in the last quarter. Principal Financial Group Inc. raised its stake in Blue Bird by 60.7% in the third quarter. Principal Financial Group Inc. now owns 58,019 shares of the company's stock valued at $2,783,000 after buying an additional 21,919 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Blue Bird by 95.9% during the third quarter. Victory Capital Management Inc. now owns 52,216 shares of the company's stock worth $2,504,000 after buying an additional 25,563 shares during the period. Finally, Algert Global LLC boosted its position in Blue Bird by 360.0% in the second quarter. Algert Global LLC now owns 105,651 shares of the company's stock valued at $5,689,000 after buying an additional 82,681 shares during the last quarter. Institutional investors own 93.59% of the company's stock.

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.