Blue Bird (NASDAQ:BLBD) Stock Price Up 5.9% – Still a Buy?

Blue Bird Co. (NASDAQ:BLBD) shot up 5.9% on Friday . The company traded as high as $42.81 and last traded at $42.68. 724,328 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 620,812 shares. The stock had previously closed at $40.29.

Analyst Ratings Changes

BLBD has been the topic of several recent research reports. Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Bank of America decreased their price target on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of Blue Bird in a report on Friday, December 13th. Finally, BTIG Research started coverage on Blue Bird in a research report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.64.

Blue Bird Price Performance

The company has a market cap of $1.37 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.10 and a beta of 1.58. The stock has a fifty day moving average price of $40.67 and a 200-day moving average price of $45.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83.

Insider Buying and Selling

In other news, CFO Razvan Radulescu sold 19,171 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total value of $822,244.19. Following the transaction, the chief financial officer now owns 89,347 shares in the company, valued at $3,832,092.83. This represents a 17.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new stake in shares of Blue Bird during the 3rd quarter worth about $26,000. Truvestments Capital LLC acquired a new position in Blue Bird in the third quarter worth approximately $35,000. Private Trust Co. NA bought a new position in Blue Bird during the third quarter valued at approximately $38,000. nVerses Capital LLC acquired a new stake in Blue Bird in the third quarter valued at approximately $53,000. Finally, Millburn Ridgefield Corp bought a new stake in Blue Bird in the third quarter worth approximately $56,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

About Blue Bird

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.