Blue Bird (NASDAQ:BLBD) Upgraded to Buy at StockNews.com

by · The Cerbat Gem

Blue Bird (NASDAQ:BLBD – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, Needham & Company LLC lowered their price objective on shares of Blue Bird from $66.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.21.

Check Out Our Latest Stock Report on Blue Bird

Blue Bird Price Performance

Shares of NASDAQ BLBD traded down $1.79 during mid-day trading on Thursday, reaching $31.92. The company had a trading volume of 963,134 shares, compared to its average volume of 661,701. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 0.84 and a beta of 1.38. The business’s 50-day simple moving average is $35.09 and its 200 day simple moving average is $40.05. Blue Bird has a one year low of $30.39 and a one year high of $59.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 1.44.

Blue Bird (NASDAQ:BLBD – Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. Blue Bird had a net margin of 8.05% and a return on equity of 75.22%. On average, research analysts predict that Blue Bird will post 3.86 earnings per share for the current fiscal year.

Insider Activity at Blue Bird

In related news, CFO Razvan Radulescu sold 2,848 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.12, for a total transaction of $108,565.76. Following the sale, the chief financial officer now owns 88,664 shares in the company, valued at $3,379,871.68. The trade was a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of Blue Bird

Hedge funds have recently made changes to their positions in the company. Freedom Investment Management Inc. increased its stake in shares of Blue Bird by 4.9% in the fourth quarter. Freedom Investment Management Inc. now owns 8,461 shares of the company’s stock valued at $327,000 after buying an additional 392 shares during the period. Quarry LP grew its holdings in Blue Bird by 55.0% during the 4th quarter. Quarry LP now owns 1,262 shares of the company’s stock worth $49,000 after acquiring an additional 448 shares during the last quarter. Dunhill Financial LLC increased its position in Blue Bird by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,000 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the period. National Bank of Canada FI bought a new position in shares of Blue Bird during the third quarter valued at $26,000. Finally, KBC Group NV lifted its holdings in shares of Blue Bird by 75.3% during the fourth quarter. KBC Group NV now owns 1,420 shares of the company’s stock worth $55,000 after purchasing an additional 610 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

Blue Bird Company Profile

(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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