Blue Bird (NASDAQ:BLBD) Price Target Raised to $54.00

Blue Bird (NASDAQ:BLBD) had its price target lifted by Barclays from $43.00 to $54.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

BLBD has been the subject of several other reports. Bank of America raised their target price on shares of Blue Bird from $60.00 to $66.00 and gave the company a buy rating in a report on Thursday, August 8th. DA Davidson lifted their price objective on Blue Bird from $44.00 to $66.00 and gave the stock a buy rating in a research report on Monday, May 20th. Roth Mkm increased their target price on Blue Bird from $40.00 to $43.00 and gave the company a buy rating in a report on Thursday, May 9th. Craig Hallum boosted their price target on Blue Bird from $54.00 to $65.00 and gave the stock a buy rating in a report on Friday, May 24th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $65.00 price objective (up previously from $52.00) on shares of Blue Bird in a research note on Wednesday, July 17th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Blue Bird has a consensus rating of Buy and a consensus price target of $60.00.

Blue Bird Price Performance

BLBD stock opened at $47.52 on Friday. The firm has a 50 day moving average of $51.97 and a 200-day moving average of $42.47. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.37 and a beta of 1.63. The company has a current ratio of 1.23, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. Blue Bird has a 12-month low of $17.59 and a 12-month high of $59.40.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $333.37 million during the quarter, compared to analysts’ expectations of $330.00 million. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, equities analysts expect that Blue Bird will post 2.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 5,000 shares of Blue Bird stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $47.08, for a total value of $235,400.00. Following the completion of the sale, the chief financial officer now owns 88,926 shares in the company, valued at approximately $4,186,636.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blue Bird

Several hedge funds have recently modified their holdings of BLBD. Covestor Ltd acquired a new stake in shares of Blue Bird during the 1st quarter worth $29,000. Macroview Investment Management LLC acquired a new stake in Blue Bird during the second quarter worth about $29,000. CWM LLC increased its stake in Blue Bird by 220.1% during the fourth quarter. CWM LLC now owns 1,290 shares of the company’s stock worth $35,000 after acquiring an additional 887 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Blue Bird in the 4th quarter worth about $66,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Blue Bird in the 2nd quarter valued at about $81,000. 93.59% of the stock is owned by institutional investors and hedge funds.

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.