Brokerages Set Blue Bird Corporation (NASDAQ:BLBD) Price Target at $85.33

Shares of Blue Bird Corporation (NASDAQ:BLBD) have been assigned an average rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $85.3333.

Several research analysts have recently commented on BLBD shares. Wall Street Zen lowered Blue Bird from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Zacks Research upgraded Blue Bird from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Needham & Company LLC reiterated a “buy” rating and issued a $86.00 price objective on shares of Blue Bird in a report on Thursday, August 6th. Roth Capital set a $93.00 target price on Blue Bird in a research note on Monday, August 10th. Finally, Barclays raised their target price on Blue Bird from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, July 20th.

Blue Bird Trading Down 0.3%

Shares of BLBD stock opened at $61.84 on Thursday. Blue Bird has a 1-year low of $46.14 and a 1-year high of $83.39. The firm has a market cap of $1.96 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 0.80 and a beta of 1.36. The company has a 50-day moving average of $69.30 and a two-hundred day moving average of $66.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. The firm had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. On average, analysts predict that Blue Bird will post 4.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new stake in Blue Bird during the 2nd quarter worth approximately $134,000. IFP Advisors Inc boosted its position in Blue Bird by 53.5% in the 2nd quarter. IFP Advisors Inc now owns 1,412 shares of the company’s stock valued at $111,000 after buying an additional 492 shares during the period. Allworth Financial LP grew its stake in shares of Blue Bird by 51.2% in the second quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $76,000 after acquiring an additional 324 shares in the last quarter. Nykredit A S acquired a new position in shares of Blue Bird in the second quarter worth $36,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Blue Bird during the second quarter worth $252,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation designs and manufactures school buses for public and private school districts, pupil transportation operators and other organizations. Its product portfolio includes conventional Type C buses, transit-style Type D buses and smaller buses, with powertrain options that include electric, propane and gasoline.

The company also provides replacement parts and support services for its buses through a network of dealers and service locations. Blue Bird emphasizes alternative-fuel and zero-emission transportation solutions, including battery-electric school buses, alongside conventional products.

Founded in 1927, Blue Bird is headquartered in Macon, Georgia.