Blue Bird (NASDAQ:BLBD) Hits New 12-Month High – What’s Next?

Blue Bird Corporation (NASDAQ:BLBD) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $82.48 and last traded at $82.4010, with a volume of 154741 shares trading hands. The stock had previously closed at $78.34.

Analysts Set New Price Targets

Several research firms have recently weighed in on BLBD. Barclays boosted their target price on shares of Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday. BTIG Research lifted their price target on Blue Bird from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Freedom Capital lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Roth Capital assumed coverage on Blue Bird in a research note on Thursday, June 25th. They set a “buy” rating and a $94.00 price objective on the stock. Finally, Zacks Research raised Blue Bird from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Blue Bird currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.17.

Blue Bird Trading Up 4.1%

The stock has a market cap of $2.58 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35. The firm’s 50 day simple moving average is $73.15 and its two-hundred day simple moving average is $62.17. The company has a quick ratio of 1.27, a current ratio of 1.83 and a debt-to-equity ratio of 0.28.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.00 EPS for the quarter, beating 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 business had revenue of $352.63 million during the quarter, compared to analyst estimates of $335.23 million. During the same period in the previous year, the business posted $0.96 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts predict that Blue Bird Corporation will post 4.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Blue Bird

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Blue Bird by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 2,041,085 shares of the company’s stock worth $95,931,000 after purchasing an additional 135,562 shares during the last quarter. Janus Henderson Group PLC increased its position in Blue Bird by 41.8% in the first quarter. Janus Henderson Group PLC now owns 1,102,335 shares of the company’s stock worth $62,669,000 after buying an additional 324,710 shares during the period. Wellington Management Group LLP increased its position in Blue Bird by 0.8% in the fourth quarter. Wellington Management Group LLP now owns 1,048,028 shares of the company’s stock worth $49,257,000 after buying an additional 8,430 shares during the period. First Trust Advisors LP lifted its stake in Blue Bird by 14.5% in the fourth quarter. First Trust Advisors LP now owns 865,136 shares of the company’s stock valued at $40,661,000 after buying an additional 109,668 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Blue Bird by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 769,204 shares of the company’s stock valued at $36,159,000 after acquiring an additional 3,120 shares during the period. 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.