Needham & Company LLC Has Lowered Expectations for Blue Bird (NASDAQ:BLBD) Stock Price

Blue Bird (NASDAQ:BLBD) had its price target decreased by stock analysts at Needham & Company LLC from $66.00 to $49.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 28.91% from the stock’s previous close.

BLBD has been the subject of several other research reports. Craig Hallum raised their price objective on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Bank of America dropped their price target on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, BTIG Research initiated coverage on Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Blue Bird currently has an average rating of “Moderate Buy” and a consensus price target of $58.21.

Blue Bird Price Performance

Shares of NASDAQ:BLBD opened at $38.01 on Thursday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.90 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83. Blue Bird has a 12 month low of $29.00 and a 12 month high of $59.40. The stock’s 50 day moving average price is $39.99 and its 200 day moving average price is $44.01.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Blue Bird had a return on equity of 91.12% and a net margin of 7.83%. Equities research analysts anticipate that Blue Bird will post 3.77 earnings per share for the current fiscal year.

Insider Activity at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of Blue Bird stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total transaction of $822,244.19. Following the transaction, the chief financial officer now owns 89,347 shares of the company’s stock, valued at $3,832,092.83. The trade was a 17.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of Blue Bird

Several institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new position in Blue Bird in the 3rd quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in shares of Blue Bird in the third quarter worth $35,000. Private Trust Co. NA purchased a new stake in shares of Blue Bird during the third quarter worth $38,000. nVerses Capital LLC acquired a new stake in Blue Bird during the third quarter valued at $53,000. Finally, KBC Group NV grew its stake in Blue Bird by 75.3% in the fourth quarter. KBC Group NV now owns 1,420 shares of the company’s stock valued at $55,000 after purchasing an additional 610 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

About Blue Bird

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.