Blue Bird (NASDAQ:BLBD) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also issued reports on the company. BTIG Research increased their price objective on Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. DA Davidson boosted their price target on Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $86.00 price target on shares of Blue Bird in a research report on Thursday, August 6th. Barclays increased their price target on Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, Roth Capital set a $93.00 price target on Blue Bird in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $85.33.

Blue Bird Trading Up 1.7%

Shares of NASDAQ:BLBD opened at $56.53 on Friday. The company has a market cap of $1.79 billion, a PE ratio of 6.88, a P/E/G ratio of 0.74 and a beta of 1.37. The company’s 50-day moving average price is $63.37 and its 200 day moving average price is $66.55. Blue Bird has a fifty-two week low of $46.14 and a fifty-two week high of $83.39. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

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

Insider Activity

In other news, COO Jeffrey Sanfrey sold 4,000 shares of Blue Bird stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total transaction of $249,600.00. Following the transaction, the chief operating officer directly owned 35,011 shares in the company, valued at approximately $2,184,686.40. This trade represents a 10.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Blue Bird

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new stake in shares of Blue Bird in the 2nd quarter worth approximately $63,565,000. BlackRock Inc. bought a new stake in Blue Bird during the second quarter worth approximately $207,493,000. Deutsche Bank AG bought a new stake in Blue Bird during the second quarter worth approximately $10,998,000. Neumeier Poma Investment Counsel LLC acquired a new position in Blue Bird in the second quarter worth approximately $51,129,758. Finally, The Manufacturers Life Insurance Company acquired a new position in Blue Bird in the second quarter worth approximately $1,193,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation designs and manufactures school buses for use by public school districts, private schools, and other student transportation providers. The company is one of the leading independent school bus manufacturers in North America and offers vehicles intended to transport students safely and efficiently in a range of operating environments.

Blue Bird’s product portfolio includes Type A, Type C, and Type D school buses. Its buses are available with multiple powertrain options, including electric, propane, gasoline, and diesel configurations, allowing customers to select vehicles based on route requirements, infrastructure, emissions goals, and operating preferences.