DA Davidson Increases Blue Bird (NASDAQ:BLBD) Price Target to $66.00

Blue Bird (NASDAQ:BLBDGet Free Report) had its target price lifted by DA Davidson from $44.00 to $66.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 21.21% from the company’s previous close.

Several other analysts have also weighed in on the company. Needham & Company LLC lifted their price objective on Blue Bird from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Barclays lifted their price objective on Blue Bird from $35.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Finally, Roth Mkm lifted their price objective on Blue Bird from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $44.75.

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Blue Bird Stock Performance

BLBD opened at $54.45 on Monday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40. The stock’s 50 day moving average price is $38.37 and its two-hundred day moving average price is $30.37. The company has a quick ratio of 0.56, a current ratio of 1.23 and a debt-to-equity ratio of 0.88. Blue Bird has a 12-month low of $17.59 and a 12-month high of $55.83.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, President Britton Smith sold 6,228 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $33.49, for a total value of $208,575.72. Following the completion of the transaction, the president now directly owns 87,250 shares of the company’s stock, valued at $2,922,002.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

Several institutional investors and hedge funds have recently bought and sold shares of BLBD. Covestor Ltd bought a new stake in Blue Bird in the first quarter valued at approximately $29,000. CWM LLC raised its stake in Blue Bird by 220.1% in the fourth quarter. CWM LLC now owns 1,290 shares of the company’s stock valued at $35,000 after buying an additional 887 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Blue Bird in the fourth quarter valued at approximately $66,000. Virtus Investment Advisers Inc. bought a new stake in Blue Bird in the first quarter valued at approximately $120,000. Finally, Victory Capital Management Inc. bought a new stake in Blue Bird in the fourth quarter valued at approximately $89,000. Institutional investors own 93.59% of the company’s stock.

About Blue Bird

(Get Free Report)

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.

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