Blue Bird (NASDAQ:BLBD) Price Target Cut to $63.50 by Analysts at Bank of America

Blue Bird (NASDAQ:BLBD) had its target price lowered by research analysts at Bank of America from $66.00 to $63.50 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 48.26% from the stock’s current price.

BLBD has been the topic of several other reports. BTIG Research started coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price on the stock. Craig Hallum raised their price target on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson raised their price objective on shares of Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Barclays increased their price objective on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Blue Bird Stock Up 4.0 %

Shares of BLBD stock traded up $1.65 during mid-day trading on Tuesday, hitting $42.83. The company’s stock had a trading volume of 1,747,514 shares, compared to its average volume of 614,312. The business has a 50-day moving average price of $44.16 and a 200 day moving average price of $48.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.20 and a beta of 1.62. Blue Bird has a 52-week low of $17.79 and a 52-week high of $59.40.

Insiders Place Their Bets

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

Institutional Trading of Blue Bird

Institutional investors have recently made changes to their positions in the stock. Axxcess Wealth Management LLC acquired a new stake in Blue Bird in the third quarter worth approximately $987,000. Vanguard Group Inc. raised its stake in shares of Blue Bird by 36.0% in 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Blue Bird in the first quarter valued at $4,000,000. Victory Capital Management Inc. grew its holdings in Blue Bird by 95.9% during the third quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock worth $2,504,000 after acquiring an additional 25,563 shares during the period. Finally, Algert Global LLC grew its stake in shares of Blue Bird by 360.0% in the 2nd quarter. Algert Global LLC now owns 105,651 shares of the company’s stock worth $5,689,000 after purchasing an additional 82,681 shares during the last quarter. 93.59% of the stock is 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.