Roth Mkm Initiates Coverage on Blue Bird (NASDAQ:BLBD)

Research analysts at Roth Mkm initiated coverage on shares of Blue Bird (NASDAQ:BLBD) in a research note issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $94.00 price target on the stock. Roth Mkm’s price objective indicates a potential upside of 18.16% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of Blue Bird from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. BTIG Research upped their target price on shares of Blue Bird from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. DA Davidson set a $86.00 target price on Blue Bird in a report on Tuesday, June 9th. Barclays lifted their price target on Blue Bird from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Needham & Company LLC upped their price objective on Blue Bird from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Blue Bird has an average rating of “Moderate Buy” and a consensus price target of $80.50.

Blue Bird Stock Up 5.5%

Shares of BLBD traded up $4.18 on Thursday, hitting $79.55. The company’s stock had a trading volume of 40,018 shares, compared to its average volume of 432,776. The firm’s fifty day moving average price is $68.44 and its 200-day moving average price is $58.98. Blue Bird has a fifty-two week low of $42.00 and a fifty-two week high of $81.51. The company has a quick ratio of 1.27, a current ratio of 1.83 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.03 and a beta of 1.37.

Blue Bird (NASDAQ:BLBD) last announced its earnings results on Wednesday, May 6th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. Blue Bird had a net margin of 8.91% and a return on equity of 53.68%. The firm had revenue of $352.63 million for the quarter, compared to the consensus estimate of $335.23 million. During the same period last year, the company posted $0.96 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Blue Bird will post 4.35 EPS for the current year.

Institutional Investors Weigh In On Blue Bird

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Blue Bird by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company’s stock valued at $618,000 after acquiring an additional 820 shares during the last quarter. NewEdge Advisors LLC boosted its position in Blue Bird by 30.9% during the first quarter. NewEdge Advisors LLC now owns 2,885 shares of the company’s stock valued at $93,000 after purchasing an additional 681 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Blue Bird by 2,090.5% in the first quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company’s stock valued at $112,000 after purchasing an additional 3,303 shares in the last quarter. New York State Common Retirement Fund grew its stake in Blue Bird by 12.5% in the second quarter. New York State Common Retirement Fund now owns 12,676 shares of the company’s stock valued at $547,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Blue Bird during the 2nd quarter worth approximately $3,799,000. 93.59% of the stock is owned by institutional investors.

About Blue Bird

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.