Bank of America Lowers Blue Bird (NASDAQ:BLBD) Price Target to $63.50

Blue Bird (NASDAQ:BLBD) had its target price lowered by Bank of America from $66.00 to $63.50 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Barclays raised their price target on shares of Blue Bird from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.64.

Blue Bird Price Performance

Shares of NASDAQ BLBD opened at $40.69 on Tuesday. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.20 and a beta of 1.62. Blue Bird has a 52 week low of $17.79 and a 52 week high of $59.40. The company’s 50-day moving average price is $43.97 and its 200 day moving average price is $48.70. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66.

Insider Activity at Blue Bird

In related news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the transaction, the president now owns 80,617 shares in the company, valued at approximately $4,015,532.77. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BLBD. Vanguard Group Inc. raised its holdings in Blue Bird by 36.0% in the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock valued at $73,292,000 after buying an additional 505,727 shares during the period. American International Group Inc. raised its holdings in Blue Bird by 9.5% in the first quarter. American International Group Inc. now owns 13,782 shares of the company’s stock valued at $528,000 after buying an additional 1,191 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Blue Bird during the first quarter valued at approximately $145,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Blue Bird during the first quarter valued at approximately $4,000,000. Finally, California State Teachers Retirement System raised its stake in shares of Blue Bird by 23.7% during the first quarter. California State Teachers Retirement System now owns 31,742 shares of the company’s stock valued at $1,217,000 after purchasing an additional 6,088 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Blue Bird Company Profile

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.