Blue Bird Corporation (NASDAQ:BLBD) Stock Has Average Target Price of $85.33 According to Brokerages

Blue Bird Corporation (NASDAQ:BLBD) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $85.33.

A number of equities research analysts have weighed in on BLBD shares. Roth Capital set a $93.00 price objective on shares of Blue Bird in a report on Monday, August 10th. Barclays lifted their target price on shares of Blue Bird from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, July 20th. DA Davidson boosted their price target on Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Blue Bird from a “hold” rating to a “strong sell” rating in a research report on Friday, October 2nd. Finally, BTIG Research lifted their target price on Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 6th.

Insider Buying and Selling at Blue Bird

In related news, COO Jeffrey Sanfrey sold 4,000 shares of Blue Bird stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total value of $249,600.00. Following the completion of the sale, the chief operating officer owned 35,011 shares of the company’s stock, valued at $2,184,686.40. The trade was a 10.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

Institutional Trading of Blue Bird

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new stake in shares of Blue Bird during the 2nd quarter valued at about $63,565,000. BlackRock Inc. purchased a new position in Blue Bird in the second quarter worth about $207,493,000. Hsbc Holdings PLC purchased a new position in Blue Bird in the second quarter worth about $6,212,000. Deutsche Bank AG bought a new stake in Blue Bird during the second quarter worth approximately $10,998,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Blue Bird during the second quarter worth approximately $1,193,000. 93.59% of the stock is currently owned by institutional investors.

Blue Bird Price Performance

Shares of BLBD stock opened at $57.85 on Friday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.84 and a beta of 1.46. The business’s fifty day moving average is $58.51 and its 200 day moving average is $63.13. Blue Bird has a twelve month low of $46.14 and a twelve month high of $83.39. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

Blue Bird (NASDAQ:BLBD) last released its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The firm had revenue of $517.16 million for the quarter, compared to the consensus estimate of $485.73 million. Research analysts expect that Blue Bird will post 4.68 EPS for the current fiscal year.

Blue Bird Company Profile

Blue Bird Corporation (NASDAQ:BLBD) designs, manufactures, and sells school buses in North America. Its product portfolio includes Type A, Type C, and Type D school buses powered by gasoline, diesel, propane, and electric powertrains. The company also provides replacement parts and aftermarket support for its vehicles.

Founded in 1927, Blue Bird is one of the longstanding manufacturers in the school bus industry. Its buses are used by public and private schools, school districts, contractors, and other student transportation providers.