DA Davidson Boosts Blue Bird (NASDAQ:BLBD) Price Target to $67.00

Blue Bird (NASDAQ:BLBD) had its price objective boosted by DA Davidson from $66.00 to $67.00 in a research note released on Friday, Benzinga reports. DA Davidson currently has a buy rating on the stock.

BLBD has been the topic of a number of other research reports. Bank of America boosted their price target on Blue Bird from $60.00 to $66.00 and gave the company a buy rating in a report on Thursday, August 8th. Craig Hallum boosted their target price on Blue Bird from $54.00 to $65.00 and gave the company a buy rating in a research note on Friday, May 24th. Barclays raised their price target on Blue Bird from $43.00 to $54.00 and gave the stock an overweight rating in a research note on Friday. Roth Mkm boosted their price objective on shares of Blue Bird from $40.00 to $43.00 and gave the company a buy rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $65.00 target price (up from $52.00) on shares of Blue Bird in a research report on Wednesday, July 17th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $60.00.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $47.52 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 1.23. Blue Bird has a fifty-two week low of $17.59 and a fifty-two week high of $59.40. The firm has a market cap of $1.53 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.37 and a beta of 1.63. The business has a 50 day moving average price of $51.97 and a 200-day moving average price of $42.47.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.42. Blue Bird had a net margin of 6.36% and a return on equity of 154.10%. The business had revenue of $333.37 million during the quarter, compared to analysts’ expectations of $330.00 million. During the same quarter in the prior year, the company posted $0.42 EPS. Equities research analysts predict that Blue Bird will post 2.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Razvan Radulescu sold 5,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $47.08, for a total transaction of $235,400.00. Following the sale, the chief financial officer now owns 88,926 shares in the company, valued at approximately $4,186,636.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Covestor Ltd purchased a new stake in Blue Bird in the first quarter worth about $29,000. Macroview Investment Management LLC bought a new stake in shares of Blue Bird in the 2nd quarter worth approximately $29,000. CWM LLC boosted its position in shares of Blue Bird by 220.1% in the 4th quarter. CWM LLC now owns 1,290 shares of the company’s stock worth $35,000 after purchasing an additional 887 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Blue Bird in the 4th quarter worth approximately $66,000. Finally, Meeder Asset Management Inc. bought a new position in Blue Bird during the 2nd quarter valued at approximately $81,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.