StockNews.com Downgrades Blue Bird (NASDAQ:BLBD) to Hold

Blue Bird (NASDAQ:BLBD - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Monday.

A number of other research analysts also recently issued reports on BLBD. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of Blue Bird in a research report on Friday. BTIG Research began coverage on Blue Bird in a research note on Wednesday, October 9th. They set a "buy" rating and a $55.00 price objective for the company. Roth Mkm downgraded Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 target price on the stock. in a research note on Thursday, October 3rd. Craig Hallum raised their target price on Blue Bird from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Bank of America reduced their price target on Blue Bird from $66.00 to $63.50 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blue Bird presently has an average rating of "Moderate Buy" and an average price target of $60.64.

Blue Bird Stock Performance

Shares of BLBD traded up $0.67 during trading hours on Monday, reaching $44.38. 717,986 shares of the company traded hands, compared to its average volume of 626,059. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $41.84 and a 200-day moving average price of $47.48. Blue Bird has a 12-month low of $24.08 and a 12-month high of $59.40. The stock has a market capitalization of $1.43 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.05 and a beta of 1.59.

Institutional Investors Weigh In On Blue Bird

Hedge funds have recently bought and sold shares of the stock. Macroview Investment Management LLC acquired a new position in Blue Bird in the second quarter valued at $29,000. National Bank of Canada FI purchased a new stake in shares of Blue Bird in the 3rd quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in shares of Blue Bird in the 3rd quarter valued at about $35,000. Private Trust Co. NA purchased a new position in Blue Bird during the 3rd quarter worth approximately $38,000. Finally, nVerses Capital LLC acquired a new position in Blue Bird during the third quarter worth approximately $53,000. Institutional investors and hedge funds 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.

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