Blue Bird (NASDAQ:BLBD) Earns Buy Rating from Needham & Company LLC

Blue Bird (NASDAQ:BLBD)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $66.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 58.84% from the company’s current price.

A number of other analysts have also recently issued reports on BLBD. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. BTIG Research started coverage on shares of Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective for the company. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a report on Thursday, October 3rd. Finally, Bank of America reduced their target price on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.64.

Blue Bird Stock Up 3.1 %

NASDAQ:BLBD traded up $1.25 during midday trading on Tuesday, hitting $41.55. 217,235 shares of the company were exchanged, compared to its average volume of 626,084. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. Blue Bird has a fifty-two week low of $24.08 and a fifty-two week high of $59.40. The company has a market capitalization of $1.33 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.10 and a beta of 1.58. The company has a fifty day simple moving average of $40.59 and a 200 day simple moving average of $45.30.

Insider Activity

In other news, CFO Razvan Radulescu sold 19,171 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total value of $822,244.19. Following the sale, the chief financial officer now directly owns 89,347 shares in the company, valued at approximately $3,832,092.83. This trade represents a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

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

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.