Blue Bird Corporation (NASDAQ:BLBD) has been given a $22.00 price target by equities researchers at Roth Capital in a research note issued on Monday. The firm currently has a “buy” rating on the stock. Roth Capital’s target price indicates a potential upside of 21.55% from the stock’s previous close.

Separately, Stifel Nicolaus lifted their price objective on Blue Bird Corporation from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 12th.

Blue Bird Corporation (BLBD) traded up 1.12% on Monday, reaching $18.10. The company’s stock had a trading volume of 56,939 shares. Blue Bird Corporation has a 52-week low of $12.87 and a 52-week high of $19.60. The stock’s market cap is $428.99 million. The firm’s 50-day moving average price is $17.42 and its 200-day moving average price is $17.46.

Blue Bird Corporation (NASDAQ:BLBD) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.10. Blue Bird Corporation had a negative return on equity of 18.50% and a net margin of 2.60%. The firm had revenue of $332.60 million during the quarter, compared to analyst estimates of $324.13 million. On average, equities analysts expect that Blue Bird Corporation will post $1.21 earnings per share for the current year.

Blue Bird Corporation announced that its Board of Directors has approved a stock buyback plan on Thursday, August 3rd that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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In other news, Director Coliseum Capital Management, L sold 128,369 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $18.80, for a total value of $2,413,337.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 380,049 shares of company stock valued at $6,945,147. 16.70% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of BLBD. Federated Investors Inc. PA increased its stake in shares of Blue Bird Corporation by 82.1% in the second quarter. Federated Investors Inc. PA now owns 6,143 shares of the company’s stock valued at $104,000 after buying an additional 2,770 shares in the last quarter. Cadence Capital Management LLC increased its stake in shares of Blue Bird Corporation by 5.8% in the second quarter. Cadence Capital Management LLC now owns 67,892 shares of the company’s stock valued at $1,154,000 after buying an additional 3,749 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Blue Bird Corporation during the second quarter valued at approximately $8,187,000. Blair William & Co. IL increased its stake in shares of Blue Bird Corporation by 189.2% in the second quarter. Blair William & Co. IL now owns 216,918 shares of the company’s stock valued at $3,688,000 after buying an additional 141,918 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Blue Bird Corporation by 12.2% in the second quarter. Bank of New York Mellon Corp now owns 47,565 shares of the company’s stock valued at $809,000 after buying an additional 5,187 shares in the last quarter.

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