Blue Bird (NASDAQ:BLBD – Free Report) The price target was raised by Bank of America from $60.00 to $66.00 in a research note issued to investors Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.
Other equities analysts have also recently issued reports on the stock. Roth Mkm increased their price target on shares of Blue Bird from $40.00 to $43.00 and gave the company a buy rating in a research note on Thursday, May 9th. Needham & Company LLC reiterated a buy rating and set a $65.00 price target (previously $52.00) on shares of Blue Bird in a research report on Wednesday, July 17th. Craig Hallum increased his price target on shares of Blue Bird from $54.00 to $65.00 and gave the stock a buy rating in a report on Friday, May 24th. DA Davidson increased his price target on shares of Blue Bird from $44.00 to $66.00 and gave the company a buy rating in a research note on Monday, May 20th. Finally, Barclays raised their price target on Blue Bird from $35.00 to $43.00 and gave the stock an overweight rating in a research note on Friday, May 10. Eight equities analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, Blue Bird currently has an average buy rating and an average price target of $60.00.
Read our latest stock analysis on Blue Bird
Blue Bird shares rise 1.0%
BLBD opened at $49.05 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.56. Blue Bird has a one year low of $17.59 and a one year high of $59.40. The company has a market cap of $1.58 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 0.37 and a beta of 1.63. The company has a 50 day moving average price of $51.97 and a 200 day moving average price of $42.26.
Blue Bird (NASDAQ:BLBD – Get Free Report) last released its earnings results on Wednesday, August 7. The company reported earnings per share of $0.85 for the quarter, beating the consensus estimate of $0.43 by $0.42. Blue Bird had a return on equity of 154.10% and a net margin of 6.36%. The company had revenue of $333.37 million for the quarter, compared to analyst expectations of $330.00 million. During the same period last year, the company generated earnings per share of $0.42. Equities analysts expect Blue Bird to report earnings per share of $2.71 for the current fiscal year.
Insider activity
In other news, CFO Razvan Radulescu sold 5,000 shares of the company’s stock on Friday, July 5. The shares were sold at an average price of $47.08, for a total value of $235,400.00. Following the completion of the sale, the CFO now owns 88,926 shares of the company’s stock, valued at approximately $4,186,636.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.
Institutional inflows and outflows
Several institutional investors and hedge funds have recently made changes to their positions in BLBD. Westwood Holdings Group Inc. acquired a new stake in Blue Bird in the 1st quarter valued at $83,817,000. Vanguard Group Inc. increased its stake in shares of Blue Bird by 36.0% in the 1st 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 in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Blue Bird by 14.0% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 828,339 shares of the company’s stock valued at $22,332,000 after acquiring an additional 101,482 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 valued at $27,432,000 after purchasing an additional 229,004 shares during the same period. Finally, Boston Partners increased its holdings in shares of Blue Bird by 279.5% during the first quarter. Boston Partners now owns 415,310 shares of the company’s stock valued at $15,587,000 after purchasing an additional 305,868 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.
About Blue Bird
(Get free report)
Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures and sells school buses in the United States, Canada and internationally. The company operates in two segments: Buses and Parts. It offers Type C, Type D and specialty buses, as well as alternative propulsion options through its propane, gasoline, compressed natural gas and electric school buses, as well as diesel engines.
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