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

Needham & Company LLC restated their buy rating on shares of Blue Bird (NASDAQ:BLBD) in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $66.00 target price on the stock.

BLBD has been the subject of a number of other reports. DA Davidson upped their target price on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. BTIG Research began coverage on Blue Bird in a research note on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective for the company. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a report on Thursday, October 3rd. Barclays boosted their price target on Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Bank of America raised their price objective on Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Trading Up 0.1 %

Shares of NASDAQ:BLBD opened at $40.65 on Tuesday. Blue Bird has a 52-week low of $18.33 and a 52-week high of $59.40. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.10 and a beta of 1.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.66 and a current ratio of 1.37. The stock’s 50-day simple moving average is $43.23 and its two-hundred day simple moving average is $48.53.

Insider Activity

In other Blue Bird news, President Britton Smith sold 2,508 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the sale, the president now directly owns 80,617 shares of the company’s stock, valued at $4,015,532.77. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Blue Bird

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new stake in Blue Bird in the 3rd quarter valued at $26,000. Macroview Investment Management LLC purchased a new position in shares of Blue Bird during the second quarter valued at about $29,000. Truvestments Capital LLC bought a new stake in shares of Blue Bird in the third quarter worth about $35,000. Private Trust Co. NA bought a new stake in shares of Blue Bird in the third quarter worth about $38,000. Finally, nVerses Capital LLC purchased a new stake in shares of Blue Bird in the third quarter worth about $53,000. Institutional investors own 93.59% of the company’s stock.

Blue Bird Company Profile

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.