Blue Bird Co. (NASDAQ:BLBD) Receives Average Recommendation of “Buy” from Brokerages

Blue Bird Co. (NASDAQ:BLBD) has been given a consensus rating of “Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.17.

Several analysts have weighed in on the company. StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Blue Bird in a report on Tuesday, September 10th. DA Davidson upped their target price on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America upped their target price on Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Barclays upped their target price on Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 9th.

Blue Bird Trading Up 2.2 %

Shares of BLBD stock opened at $54.51 on Friday. The business’s fifty day moving average price is $49.41 and its 200 day moving average price is $46.09. Blue Bird has a 1-year low of $17.59 and a 1-year high of $59.40. The firm has a market capitalization of $1.76 billion, a PE ratio of 22.07, a P/E/G ratio of 0.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 0.66.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.42. The firm had revenue of $333.37 million for 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 in the prior year, the company posted $0.42 earnings per share. As a group, sell-side analysts forecast that Blue Bird will post 3.22 EPS for the current fiscal year.

Insider Activity

In other news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $48.00, for a total value of $120,384.00. Following the sale, the president now directly owns 83,125 shares in the company, valued at $3,990,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Britton Smith sold 2,508 shares of the 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 transaction, the president now directly owns 83,125 shares in the company, valued at $3,990,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phil Horlock sold 16,080 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.34, for a total value of $761,227.20. Following the transaction, the chief executive officer now owns 331,971 shares in the company, valued at $15,715,507.14. The disclosure for this sale can be found here. Insiders have sold 61,240 shares of company stock worth $2,960,546 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blue Bird

Several large investors have recently added to or reduced their stakes in the business. Macroview Investment Management LLC purchased a new position in shares of Blue Bird in the 2nd quarter worth about $29,000. Covestor Ltd purchased a new position in shares of Blue Bird in the 1st quarter worth about $29,000. Quarry LP raised its holdings in shares of 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 purchasing an additional 358 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Blue Bird in the 2nd quarter worth about $81,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Blue Bird in the 2nd quarter worth about $113,000. 93.59% of the stock is currently owned by hedge funds and other 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.