Blue Bird Corporation (NASDAQ:BLBD) Receives Consensus Rating of “Buy” from Analysts

Blue Bird Corporation (NASDAQ:BLBD) has received an average rating of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $85.3333.

A number of research analysts recently commented on the company. Barclays raised their price target on Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. DA Davidson increased their price target on shares of Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Roth Capital set a $93.00 price objective on shares of Blue Bird in a research note on Monday, August 10th. BTIG Research upped their price objective on Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised Blue Bird from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th.

Blue Bird Trading Up 0.9%

Shares of Blue Bird stock opened at $62.41 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.67 and a current ratio of 1.64. The firm has a 50-day moving average of $68.99 and a 200-day moving average of $66.43. Blue Bird has a 52-week low of $46.14 and a 52-week high of $83.39. The stock has a market cap of $1.98 billion, a PE ratio of 7.59, a PEG ratio of 0.80 and a beta of 1.36.

Blue Bird (NASDAQ:BLBD) last announced its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The firm had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. As a group, sell-side analysts forecast that Blue Bird will post 4.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Blue Bird during the 2nd quarter valued at approximately $134,000. IFP Advisors Inc increased its position in Blue Bird by 53.5% during the 2nd quarter. IFP Advisors Inc now owns 1,412 shares of the company’s stock worth $111,000 after purchasing an additional 492 shares in the last quarter. Allworth Financial LP lifted its stake in Blue Bird by 51.2% in the 2nd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $76,000 after purchasing an additional 324 shares during the last quarter. Nykredit A S bought a new position in Blue Bird in the 2nd quarter valued at approximately $36,000. Finally, Corient Private Wealth LP acquired a new stake in Blue Bird in the second quarter valued at approximately $252,000. Institutional investors own 93.59% of the company’s stock.

About Blue Bird

Blue Bird Corporation designs and manufactures school buses for public and private school districts, pupil transportation operators and other organizations. Its product portfolio includes conventional Type C buses, transit-style Type D buses and smaller buses, with powertrain options that include electric, propane and gasoline.

The company also provides replacement parts and support services for its buses through a network of dealers and service locations. Blue Bird emphasizes alternative-fuel and zero-emission transportation solutions, including battery-electric school buses, alongside conventional products.

Founded in 1927, Blue Bird is headquartered in Macon, Georgia.