Blue Bird Corporation (NASDAQ:BLBD) Stock Has Average Price Target of $85.33

Blue Bird Corporation (NASDAQ:BLBD – Get Free Report) has earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $85.33.

BLBD has been the topic of a number of research reports. Wall Street Zen downgraded shares of Blue Bird from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Barclays lifted their price target on Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Needham & Company LLC restated a “buy” rating and set a $86.00 price objective on shares of Blue Bird in a research report on Thursday, August 6th. Roth Capital set a $93.00 price objective on Blue Bird in a research note on Monday, August 10th. Finally, Freedom Capital raised Blue Bird from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th.

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Blue Bird Stock Up 0.2%

Shares of BLBD opened at $56.29 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 0.82 and a beta of 1.37. Blue Bird has a 1 year low of $46.14 and a 1 year high of $83.39. The business’s 50 day simple moving average is $61.59 and its 200-day simple moving average is $66.64.

Blue Bird (NASDAQ:BLBD – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The firm had revenue of $517.16 million during the quarter, compared to analyst estimates of $485.73 million. As a group, equities analysts expect that Blue Bird will post 4.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jeffrey Sanfrey sold 4,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $62.40, for a total value of $249,600.00. Following the sale, the chief operating officer owned 35,011 shares of the company’s stock, valued at approximately $2,184,686.40. This represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blue Bird

Several hedge funds and other institutional investors have recently modified their holdings of BLBD. Bank of America Corp DE acquired a new stake in shares of Blue Bird during the second quarter worth $63,565,000. BlackRock Inc. acquired a new position in shares of Blue Bird in the 2nd quarter valued at $207,493,000. Deutsche Bank AG acquired a new position in shares of Blue Bird in the 2nd quarter valued at $10,998,000. Hsbc Holdings PLC purchased a new position in Blue Bird in the 2nd quarter worth $6,212,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Blue Bird in the 2nd quarter worth $1,193,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Blue Bird Company Profile

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Blue Bird Corporation designs and manufactures school buses for use by public school districts, private schools, and other student transportation providers. The company is one of the leading independent school bus manufacturers in North America and offers vehicles intended to transport students safely and efficiently in a range of operating environments.

Blue Bird’s product portfolio includes Type A, Type C, and Type D school buses. Its buses are available with multiple powertrain options, including electric, propane, gasoline, and diesel configurations, allowing customers to select vehicles based on route requirements, infrastructure, emissions goals, and operating preferences.

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