Blue Bird (NASDAQ:BLBD) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a research report released on Thursday morning.

Other equities analysts have also issued reports about the stock. Barclays lifted their target price on shares of Blue Bird from $43.00 to $54.00 and gave the company an overweight rating in a report on Friday, August 9th. BTIG Research began coverage on Blue Bird in a report on Wednesday, October 9th. They issued a buy rating and a $55.00 target price on the stock. Bank of America raised their price target on Blue Bird from $60.00 to $66.00 and gave the company a buy rating in a report on Thursday, August 8th. Roth Mkm cut shares of Blue Bird from a buy rating to a neutral rating and set a $48.00 price target on the stock. in a research note on Thursday, October 3rd. Finally, Needham & Company LLC restated a buy rating and set a $72.00 price objective on shares of Blue Bird in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blue Bird currently has a consensus rating of Moderate Buy and an average price target of $61.00.

Blue Bird Stock Up 2.4 %

Shares of NASDAQ:BLBD opened at $44.15 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. Blue Bird has a 52-week low of $17.59 and a 52-week high of $59.40. The firm has a market capitalization of $1.43 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.21 and a beta of 1.60. The stock has a 50 day moving average price of $48.17 and a 200-day moving average price of $47.48.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.43 by $0.42. The business had revenue of $333.37 million during the quarter, compared to analyst estimates of $330.00 million. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, equities research analysts anticipate that Blue Bird will post 3.22 EPS for the current fiscal year.

Insider Transactions at Blue Bird

In related news, President Britton Smith sold 2,508 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $48.00, for a total transaction of $120,384.00. Following the transaction, the president now owns 83,125 shares in the company, valued at $3,990,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Blue Bird news, President Britton Smith sold 2,508 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $48.00, for a total transaction of $120,384.00. Following the completion of the sale, the president now directly owns 83,125 shares in the company, valued at $3,990,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Phil Horlock sold 32,159 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the completion of the transaction, the chief executive officer now owns 299,812 shares in the company, valued at $14,669,801.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,240 shares of company stock worth $2,725,146 over the last three months. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blue Bird

A number of institutional investors have recently bought and sold shares of BLBD. Macroview Investment Management LLC purchased a new stake in Blue Bird in the second quarter worth about $29,000. Covestor Ltd bought a new position in shares of Blue Bird during the 1st quarter valued at approximately $29,000. Quarry LP increased its holdings in Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after acquiring an additional 358 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Blue Bird during the 2nd quarter worth approximately $81,000. Finally, Canada Pension Plan Investment Board purchased a new position in Blue Bird during the second quarter valued at approximately $113,000. 93.59% of the stock is owned by institutional investors.

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.