Blue Bird (NASDAQ:BLBD) Lifted to "Buy" at StockNews.com

Blue Bird (NASDAQ:BLBD - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Tuesday.

Other analysts also recently issued research reports about the stock. BTIG Research began coverage on shares of Blue Bird in a report on Wednesday, October 9th. They issued a "buy" rating and a $55.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Blue Bird in a research note on Tuesday, September 10th. Bank of America lifted their target price on shares of Blue Bird from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Roth Mkm lowered Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 target price for the company. in a report on Thursday, October 3rd. Finally, Roth Capital lowered Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $61.00.

Blue Bird Trading Up 1.7 %

BLBD stock traded up $0.73 during mid-day trading on Tuesday, reaching $43.19. The company's stock had a trading volume of 728,317 shares, compared to its average volume of 582,340. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.21 and a beta of 1.60. Blue Bird has a 12 month low of $17.59 and a 12 month high of $59.40. The business's 50 day moving average price is $47.16 and its 200 day moving average price is $48.04. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.43 by $0.42. The company had revenue of $333.37 million during the quarter, compared to the consensus estimate of $330.00 million. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. During the same period last year, the business posted $0.42 EPS. On average, equities research analysts predict that Blue Bird will post 3.22 EPS for the current year.

Insider Buying and Selling

In related news, CEO Phil Horlock sold 32,159 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the sale, the chief executive officer now directly owns 299,812 shares of the company's stock, valued at approximately $14,669,801.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, President Britton Smith sold 2,508 shares of Blue Bird stock in a transaction on Monday, August 19th. The stock was sold at an average price of $48.00, for a total value of $120,384.00. Following the completion of the sale, the president now owns 83,125 shares of the company's stock, valued at $3,990,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Phil Horlock sold 32,159 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the sale, the chief executive officer now directly owns 299,812 shares of the company's stock, valued at $14,669,801.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,240 shares of company stock valued at $2,725,146 over the last quarter. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. bought a new stake in shares of Blue Bird during the 1st quarter valued at $83,817,000. Vanguard Group Inc. raised its holdings in Blue Bird by 36.0% during the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company's stock valued at $73,292,000 after acquiring an additional 505,727 shares during the period. Boston Partners lifted its position in shares of Blue Bird by 279.5% in the first quarter. Boston Partners now owns 415,310 shares of the company's stock valued at $15,587,000 after acquiring an additional 305,868 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Blue Bird by 81.7% during the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company's stock worth $27,432,000 after purchasing an additional 229,004 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Blue Bird during the 2nd quarter valued at approximately $11,788,000. Institutional investors own 93.59% of the company's stock.

Blue Bird Company Profile

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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