Blue Bird (NASDAQ:BLBD) PT Raised to $65.00

Blue Bird (NASDAQ:BLBD) had its price objective hoisted by Craig Hallum from $54.00 to $65.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price target suggests a potential upside of 19.18% from the stock’s current price.

A number of other research analysts also recently commented on BLBD. Barclays lifted their price objective on shares of Blue Bird from $35.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Roth Mkm increased their price objective on Blue Bird from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Needham & Company LLC boosted their target price on shares of Blue Bird from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, DA Davidson raised their price target on shares of Blue Bird from $44.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Blue Bird has a consensus rating of “Buy” and an average target price of $49.25.

Blue Bird Price Performance

Shares of NASDAQ BLBD opened at $54.54 on Friday. The company has a fifty day moving average price of $39.67 and a 200 day moving average price of $31.03. Blue Bird has a 1-year low of $17.59 and a 1-year high of $56.41. The firm has a market cap of $1.76 billion, a PE ratio of 22.08, a PEG ratio of 0.44 and a beta of 1.40. The company has a current ratio of 1.23, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88.

Insider Activity

In related news, President Britton Smith sold 6,228 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $33.49, for a total value of $208,575.72. Following the completion of the transaction, the president now owns 87,250 shares of the company’s stock, valued at approximately $2,922,002.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Blue Bird

A number of institutional investors and hedge funds have recently bought and sold shares of BLBD. Westwood Holdings Group Inc. bought a new stake in Blue Bird in the first quarter valued at approximately $83,817,000. Vanguard Group Inc. lifted its stake in shares of Blue Bird by 36.0% in the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock valued at $73,292,000 after purchasing an additional 505,727 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of Blue Bird by 783.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 439,159 shares of the company’s stock valued at $9,376,000 after purchasing an additional 389,459 shares in the last quarter. Kennedy Capital Management LLC boosted its position in shares of Blue Bird by 245.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 509,002 shares of the company’s stock valued at $10,867,000 after purchasing an additional 361,763 shares in the last quarter. Finally, Brightline Capital Management LLC acquired a new stake in Blue Bird during the fourth quarter worth approximately $7,279,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Blue Bird

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.