Blue Bird (NASDAQ:BLBD) Trading Up 5.9% – Here’s Why

Blue Bird Co. (NASDAQ:BLBD)’s share price was up 5.9% during trading on Friday . The stock traded as high as $42.81 and last traded at $42.68. Approximately 724,328 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 620,812 shares. The stock had previously closed at $40.29.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research report on Thursday, October 3rd. BTIG Research started coverage on Blue Bird in a report on Wednesday, October 9th. They set a “buy” rating and a $55.00 price objective on the stock. StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Roth Capital downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Blue Bird presently has an average rating of “Moderate Buy” and a consensus price target of $60.64.

Blue Bird Stock Up 3.6 %

The business has a 50-day simple moving average of $40.66 and a two-hundred day simple moving average of $45.45. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.10 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 1.37.

Insider Activity at Blue Bird

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

Hedge Funds Weigh In On Blue Bird

Large investors have recently modified their holdings of the business. National Bank of Canada FI acquired a new position in Blue Bird during the third quarter worth $26,000. Truvestments Capital LLC acquired a new position in shares of Blue Bird during the 3rd quarter worth $35,000. Private Trust Co. NA purchased a new position in shares of Blue Bird in the 3rd quarter valued at about $38,000. nVerses Capital LLC purchased a new position in shares of Blue Bird in the 3rd quarter valued at about $53,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Blue Bird in the third quarter valued at about $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.