Blue Bird (NASDAQ:BLBD) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Blue Bird (NASDAQ:BLBD) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also commented on BLBD. DA Davidson upped their target price on Blue Bird from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $86.00 price target on shares of Blue Bird in a research note on Thursday, August 6th. Freedom Capital raised Blue Bird from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. BTIG Research increased their price target on Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Roth Capital set a $93.00 price objective on shares of Blue Bird in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $85.33.

Blue Bird Trading Down 0.6%

NASDAQ:BLBD opened at $60.43 on Friday. Blue Bird has a 52 week low of $46.14 and a 52 week high of $83.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.67 and a current ratio of 1.64. The firm’s fifty day moving average is $67.62 and its 200-day moving average is $66.42. The firm has a market cap of $1.91 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.79 and a beta of 1.36.

Blue Bird (NASDAQ:BLBD) last released its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. The business had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. Equities analysts expect that Blue Bird will post 4.68 earnings per share for the current year.

Insider Activity at Blue Bird

In related news, COO Jeffrey Sanfrey sold 4,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total value of $249,600.00. Following the completion of the sale, the chief operating officer directly owned 35,011 shares of the company’s stock, valued at $2,184,686.40. The trade was a 10.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Blue Bird in the 2nd quarter worth about $134,000. IFP Advisors Inc raised its stake in shares of Blue Bird by 53.5% in the second quarter. IFP Advisors Inc now owns 1,412 shares of the company’s stock worth $111,000 after purchasing an additional 492 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Blue Bird by 51.2% in the second quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $76,000 after purchasing an additional 324 shares in the last quarter. Nykredit A S purchased a new position in shares of Blue Bird during the second quarter valued at approximately $36,000. Finally, Corient Private Wealth LP bought a new stake in Blue Bird during the second quarter worth $252,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation designs and manufactures school buses for public and private school districts, pupil transportation operators and other organizations. Its product portfolio includes conventional Type C buses, transit-style Type D buses and smaller buses, with powertrain options that include electric, propane and gasoline.

The company also provides replacement parts and support services for its buses through a network of dealers and service locations. Blue Bird emphasizes alternative-fuel and zero-emission transportation solutions, including battery-electric school buses, alongside conventional products.

Founded in 1927, Blue Bird is headquartered in Macon, Georgia.