Blue Bird Co. (NASDAQ:BLBD) Receives Consensus Rating of "Moderate Buy" from Analysts

Blue Bird Co. (NASDAQ:BLBD - Get Free Report) has been given an average rating of "Moderate Buy" by the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $60.64.

A number of analysts have commented on BLBD shares. Roth Capital cut Blue Bird from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. 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 research report on Thursday, October 3rd. Craig Hallum raised their price target on shares of Blue Bird from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of Blue Bird in a report on Friday, December 13th. Finally, BTIG Research initiated coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They set a "buy" rating and a $55.00 target price for the company.

Blue Bird Stock Performance

NASDAQ:BLBD traded down $0.29 during trading hours on Tuesday, hitting $38.85. 232,834 shares of the company were exchanged, compared to its average volume of 627,869. The company's 50 day moving average price is $41.64 and its 200-day moving average price is $46.95. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.05 and a beta of 1.59. Blue Bird has a 52-week low of $24.08 and a 52-week high of $59.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83.

Insiders Place Their Bets

In related 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 owns 89,347 shares of the company's stock, valued at approximately $3,832,092.83. This trade represents a 17.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Blue Bird

A number of large investors have recently added to or reduced their stakes in BLBD. FMR LLC increased its stake in shares of Blue Bird by 268.0% during the third quarter. FMR LLC now owns 1,841,745 shares of the company's stock worth $88,330,000 after purchasing an additional 1,341,259 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Blue Bird by 26.2% in the 3rd quarter. Geode Capital Management LLC now owns 752,228 shares of the company's stock worth $36,084,000 after buying an additional 156,298 shares during the last quarter. State Street Corp increased its stake in Blue Bird by 8.4% during the 3rd quarter. State Street Corp now owns 725,573 shares of the company's stock worth $34,798,000 after buying an additional 56,449 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Blue Bird by 0.4% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company's stock valued at $30,499,000 after acquiring an additional 2,598 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Blue Bird by 81.7% in the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company's stock valued at $27,432,000 after acquiring an additional 229,004 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.