Blue Bird (NASDAQ:BLBD) Given New $66.00 Price Target at Needham & Company LLC

Blue Bird (NASDAQ:BLBD) had its price objective decreased by investment analysts at Needham & Company LLC from $72.00 to $66.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 62.24% from the stock’s current price.

Other analysts have also recently issued reports about the company. DA Davidson boosted their price objective on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Roth Mkm downgraded shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Thursday, October 3rd. Barclays boosted their target price on shares of Blue Bird from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Bank of America raised their price target on shares of Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.14.

Blue Bird Stock Down 2.5 %

BLBD opened at $40.68 on Monday. The company has a fifty day moving average of $45.87 and a two-hundred day moving average of $48.51. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.20 and a beta of 1.62. Blue Bird has a fifty-two week low of $17.79 and a fifty-two week high of $59.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40.

Insiders Place Their Bets

In other news, SVP Ted Scartz sold 2,985 shares of Blue Bird stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $48.60, for a total transaction of $145,071.00. Following the transaction, the senior vice president now owns 51,863 shares in the company, valued at $2,520,541.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Ted Scartz sold 2,985 shares of Blue Bird stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $48.60, for a total transaction of $145,071.00. Following the sale, the senior vice president now owns 51,863 shares of the company’s stock, valued at approximately $2,520,541.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Britton Smith sold 2,508 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $48.00, for a total value of $120,384.00. Following the completion of the transaction, the president now owns 83,125 shares in the company, valued at $3,990,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,240 shares of company stock valued at $2,725,146. Insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd purchased a new position in Blue Bird during the first quarter worth about $29,000. Macroview Investment Management LLC acquired a new position in shares of Blue Bird in the 2nd quarter worth approximately $29,000. nVerses Capital LLC acquired a new stake in Blue Bird in the 3rd quarter valued at approximately $53,000. Quarry LP increased its holdings in Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock valued at $63,000 after purchasing an additional 358 shares during the last quarter. Finally, Signaturefd LLC raised its position in Blue Bird by 1,227.7% in the third quarter. Signaturefd LLC now owns 1,580 shares of the company’s stock valued at $76,000 after purchasing an additional 1,461 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

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.