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

Blue Bird (NASDAQ:BLBD) had its target price reduced by Bank of America from $66.00 to $63.50 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a report on Thursday, October 3rd. DA Davidson upped their price objective on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of Blue Bird in a report on Tuesday. Finally, Barclays upped their price target on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Blue Bird Price Performance

Shares of BLBD opened at $40.59 on Tuesday. The firm has a market capitalization of $1.31 billion, a PE ratio of 12.76, a PEG ratio of 0.21 and a beta of 1.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 0.66. The company’s 50-day moving average is $43.51 and its 200-day moving average is $48.58. Blue Bird has a fifty-two week low of $17.79 and a fifty-two week high of $59.40.

Insider Buying and Selling

In related news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.81, for a total value of $124,923.48. Following the sale, the president now directly owns 80,617 shares of the company’s stock, valued at $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 available through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Blue Bird by 36.0% during the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after purchasing an additional 505,727 shares in the last quarter. FMR LLC lifted its stake in shares of Blue Bird by 268.0% in the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company’s stock valued at $88,330,000 after acquiring an additional 1,341,259 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Blue Bird by 26.2% during the 3rd quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock valued at $36,084,000 after acquiring an additional 156,298 shares in the last quarter. State Street Corp grew its position in Blue Bird by 8.4% during the 3rd quarter. State Street Corp now owns 725,573 shares of the company’s stock worth $34,798,000 after acquiring an additional 56,449 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in Blue Bird by 0.4% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company’s stock worth $30,499,000 after purchasing an additional 2,598 shares in the last quarter. Institutional investors 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.