Roth Mkm Raises Blue Bird (NASDAQ:BLBD) Price Target to $43.00

Blue Bird (NASDAQ:BLBDFree Report) had its price target lifted by Roth Mkm from $40.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

BLBD has been the subject of several other reports. Needham & Company LLC lifted their price objective on Blue Bird from $44.00 to $52.00 and gave the stock a buy rating in a research report on Thursday. Barclays boosted their price target on Blue Bird from $25.00 to $35.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Blue Bird presently has a consensus rating of Buy and a consensus price target of $38.58.

View Our Latest Research Report on BLBD

Blue Bird Price Performance

Shares of NASDAQ:BLBD opened at $48.74 on Thursday. Blue Bird has a 12 month low of $17.59 and a 12 month high of $49.00. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 0.56 and a beta of 1.40. The business’s 50 day simple moving average is $35.68 and its 200-day simple moving average is $28.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.54.

Blue Bird (NASDAQ:BLBDGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.52. The business had revenue of $317.66 million during the quarter, compared to analysts’ expectations of $265.00 million. Blue Bird had a return on equity of 154.10% and a net margin of 6.36%. As a group, equities analysts forecast that Blue Bird will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Britton Smith sold 6,228 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $33.49, for a total transaction of $208,575.72. Following the completion of the transaction, the president now owns 87,250 shares of the company’s stock, valued at approximately $2,922,002.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, President Britton Smith sold 6,228 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $33.49, for a total transaction of $208,575.72. Following the completion of the sale, the president now directly owns 87,250 shares in the company, valued at approximately $2,922,002.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Phil Horlock sold 57,562 shares of Blue Bird stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $33.00, for a total value of $1,899,546.00. Following the completion of the transaction, the chief executive officer now owns 299,812 shares in the company, valued at approximately $9,893,796. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,115,159 shares of company stock worth $135,385,519. 2.10% of the stock is owned by company insiders.

Institutional Trading of Blue Bird

A number of institutional investors and hedge funds have recently bought and sold shares of BLBD. Vanguard Group Inc. grew its stake in Blue Bird by 36.0% during the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after buying an additional 505,727 shares during the period. Epoch Investment Partners Inc. boosted its position in Blue Bird by 783.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 439,159 shares of the company’s stock worth $9,376,000 after purchasing an additional 389,459 shares during the period. Kennedy Capital Management LLC increased its holdings in Blue Bird by 245.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 509,002 shares of the company’s stock valued at $10,867,000 after purchasing an additional 361,763 shares in the last quarter. Brightline Capital Management LLC purchased a new position in Blue Bird in the fourth quarter valued at about $7,279,000. Finally, Gamco Investors INC. ET AL purchased a new position in Blue Bird in the third quarter valued at about $5,685,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Blue Bird

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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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