Blue Bird (NASDAQ:BLBD - Get Free Report) had its price objective lowered by analysts at Needham & Company LLC from $66.00 to $49.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 27.93% from the stock's previous close.
BLBD has been the subject of several other reports. Craig Hallum raised their price objective on shares of Blue Bird from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. StockNews.com upgraded Blue Bird from a "hold" rating to a "buy" rating in a research note on Tuesday, December 24th. Bank of America reduced their price target on Blue Bird from $66.00 to $63.50 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Finally, BTIG Research initiated coverage on Blue Bird in a research report on Wednesday, October 9th. They set a "buy" rating and a $55.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.21.
Check Out Our Latest Report on BLBD
Blue Bird Trading Up 0.8 %
Shares of BLBD stock traded up $0.29 during mid-day trading on Thursday, reaching $38.30. The stock had a trading volume of 573,953 shares, compared to its average volume of 778,717. The firm has a market capitalization of $1.23 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.56. The stock's 50-day moving average price is $39.94 and its two-hundred day moving average price is $43.82. The company has a current ratio of 1.44, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49. Blue Bird has a 52-week low of $29.78 and a 52-week high of $59.40.
Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. Equities analysts expect that Blue Bird will post 3.77 earnings per share for the current fiscal year.
Insider Transactions at Blue Bird
In related 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Blue Bird
A number of institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI bought a new stake in shares of Blue Bird during the 3rd quarter valued at about $26,000. Truvestments Capital LLC bought a new stake in Blue Bird during the third quarter valued at approximately $35,000. Private Trust Co. NA purchased a new stake in Blue Bird during the third quarter valued at approximately $38,000. nVerses Capital LLC bought a new position in Blue Bird in the third quarter worth approximately $53,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Blue Bird during the 3rd quarter worth $56,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.
About Blue Bird
(
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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.
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