Blue Bird (NASDAQ:BLBD) Given New $63.50 Price Target at Bank of America

Blue Bird (NASDAQ:BLBD) had its price target cut by Bank of America from $66.00 to $63.50 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on BLBD. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Friday, November 8th. DA Davidson upped their target price on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Craig Hallum upped their target price on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays upped 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Trading Down 5.0 %

NASDAQ BLBD opened at $40.69 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66. Blue Bird has a 52 week low of $17.79 and a 52 week high of $59.40. The stock has a market capitalization of $1.32 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.20 and a beta of 1.62. The firm has a 50 day moving average of $43.97 and a two-hundred day moving average of $48.70.

Insider Buying and Selling

In other Blue Bird news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the transaction, the president now owns 80,617 shares in the company, valued at approximately $4,015,532.77. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blue Bird

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Blue Bird by 36.0% during the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after buying an additional 505,727 shares during the last quarter. FMR LLC increased its holdings in shares of Blue Bird by 268.0% in the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company’s stock valued at $88,330,000 after purchasing an additional 1,341,259 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Blue Bird by 26.2% in the 3rd quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock valued at $36,084,000 after purchasing an additional 156,298 shares in the last quarter. State Street Corp increased its holdings in shares of Blue Bird by 8.4% in the 3rd quarter. State Street Corp now owns 725,573 shares of the company’s stock valued at $34,798,000 after purchasing an additional 56,449 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Blue Bird by 0.4% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company’s stock valued at $30,499,000 after purchasing an additional 2,598 shares in the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.