Blue Bird (NASDAQ:BLBD) Given "Buy" Rating at Needham & Company LLC

Blue Bird (NASDAQ:BLBD - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $66.00 target price on the stock. Needham & Company LLC's price target indicates a potential upside of 59.23% from the company's current price.

Other research analysts have also issued reports about the company. StockNews.com upgraded Blue Bird from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. BTIG Research assumed coverage on Blue Bird in a research report on Wednesday, October 9th. They issued a "buy" rating and a $55.00 target price for the company. Craig Hallum raised their price objective on shares of Blue Bird from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Roth Capital downgraded shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Finally, Roth Mkm cut shares of Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 price target for the company. in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.64.

Blue Bird Trading Up 2.9 %

BLBD traded up $1.15 on Tuesday, hitting $41.45. The company had a trading volume of 412,461 shares, compared to its average volume of 652,595. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.33 billion, a P/E ratio of 13.03, a PEG ratio of 1.10 and a beta of 1.58. The company's fifty day moving average price is $40.56 and its 200 day moving average price is $45.21. Blue Bird has a 1 year low of $24.08 and a 1 year high of $59.40.

Insider Transactions at Blue Bird

In other news, CFO Razvan Radulescu sold 19,171 shares of Blue Bird stock in a transaction dated 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 $3,832,092.83. The trade was a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Blue Bird

Several institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in Blue Bird during the 3rd quarter valued at $26,000. Truvestments Capital LLC purchased a new stake in shares of Blue Bird during the third quarter worth about $35,000. Private Trust Co. NA acquired a new position in Blue Bird during the 3rd quarter worth $38,000. nVerses Capital LLC bought a new stake in shares of Blue Bird in the 3rd quarter valued at approximately $53,000. Finally, Millburn Ridgefield Corp bought a new position in Blue Bird in the third quarter worth about $56,000. 93.59% of the stock is currently 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.