Needham & Company LLC Reaffirms “Buy” Rating for Blue Bird (NASDAQ:BLBD)

Blue Bird (NASDAQ:BLBD)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $66.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 51.00% from the company’s current price.

A number of other equities research analysts have also weighed in on BLBD. Craig Hallum boosted their price objective on Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Bank of America reduced their price target on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Thursday, October 3rd. Finally, Roth Capital lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Price Performance

Shares of NASDAQ BLBD opened at $43.71 on Friday. The stock has a market capitalization of $1.41 billion, a PE ratio of 13.75, a P/E/G ratio of 1.05 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83. The business has a fifty day moving average price of $41.79 and a two-hundred day moving average price of $47.67. Blue Bird has a fifty-two week low of $23.76 and a fifty-two week high of $59.40.

Institutional Trading of Blue Bird

Large investors have recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in shares of Blue Bird in the third quarter valued at $26,000. Macroview Investment Management LLC purchased a new position in shares of Blue Bird in the second quarter valued at $29,000. Truvestments Capital LLC purchased a new position in shares of Blue Bird in the third quarter valued at $35,000. Private Trust Co. NA purchased a new position in shares of Blue Bird in the third quarter valued at $38,000. Finally, nVerses Capital LLC purchased a new position in shares of Blue Bird in the third quarter valued at $53,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.