Blue Bird Corporation (NASDAQ:BLBD) Receives $85.33 Average Price Target from Analysts

Blue Bird Corporation (NASDAQ:BLBD) has received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $85.3333.

Several brokerages have recently issued reports on BLBD. Wall Street Zen lowered shares of Blue Bird from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Needham & Company LLC restated a “buy” rating and set a $86.00 price target on shares of Blue Bird in a research report on Thursday, August 6th. Roth Capital set a $93.00 price objective on Blue Bird in a report on Monday, August 10th. Barclays boosted their price objective on Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, BTIG Research increased their target price on Blue Bird from $80.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 6th.

Institutional Trading of Blue Bird

Large investors have recently made changes to their positions in the company. Triumph Capital Management grew its stake in shares of Blue Bird by 24.7% in the second quarter. Triumph Capital Management now owns 842 shares of the company’s stock worth $66,000 after acquiring an additional 167 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Blue Bird by 85.5% in the second quarter. GAMMA Investing LLC now owns 629 shares of the company’s stock valued at $50,000 after acquiring an additional 290 shares in the last quarter. Kilter Group LLC acquired a new stake in shares of Blue Bird in the second quarter valued at $25,000. Quantinno Capital Management LP boosted its holdings in Blue Bird by 7.0% in the first quarter. Quantinno Capital Management LP now owns 4,950 shares of the company’s stock valued at $281,000 after purchasing an additional 324 shares during the period. Finally, Allworth Financial LP boosted its holdings in Blue Bird by 51.2% in the second quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $76,000 after purchasing an additional 324 shares during the period. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Blue Bird Trading Down 0.2%

Shares of BLBD stock opened at $61.66 on Thursday. Blue Bird has a 1-year low of $46.14 and a 1-year high of $83.39. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 0.80 and a beta of 1.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67. The stock has a 50 day simple moving average of $68.31 and a 200-day simple moving average of $66.45.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The firm had revenue of $517.16 million for the quarter, compared to analysts’ expectations of $485.73 million. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. On average, equities research analysts expect that Blue Bird will post 4.68 EPS for the current fiscal year.

About Blue Bird

Blue Bird Corporation designs and manufactures school buses for public and private school districts, pupil transportation operators and other organizations. Its product portfolio includes conventional Type C buses, transit-style Type D buses and smaller buses, with powertrain options that include electric, propane and gasoline.

The company also provides replacement parts and support services for its buses through a network of dealers and service locations. Blue Bird emphasizes alternative-fuel and zero-emission transportation solutions, including battery-electric school buses, alongside conventional products.

Founded in 1927, Blue Bird is headquartered in Macon, Georgia.