Blue Bird (NASDAQ:BLBD) Trading 5.9% Higher – Here’s Why

Blue Bird Co. (NASDAQ:BLBD)’s share price rose 5.9% during trading on Friday . The stock traded as high as $42.81 and last traded at $42.68. Approximately 724,328 shares changed hands during trading, an increase of 17% from the average daily volume of 620,812 shares. The stock had previously closed at $40.29.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of Blue Bird in a research report on Friday, December 13th. BTIG Research began coverage on Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price for the company. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Craig Hallum boosted their price objective on shares of Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Roth Mkm lowered shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Stock Performance

The firm’s 50 day moving average price is $40.67 and its 200-day moving average price is $45.59. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.10 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83.

Insider Activity at Blue Bird

In other news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total transaction of $822,244.19. Following the sale, the chief financial officer now owns 89,347 shares in the company, valued at approximately $3,832,092.83. This represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blue Bird

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI acquired a new stake in shares of Blue Bird in the third quarter valued at approximately $26,000. Truvestments Capital LLC bought a new position in Blue Bird in the 3rd quarter valued at $35,000. Private Trust Co. NA acquired a new stake in shares of Blue Bird in the 3rd quarter valued at $38,000. nVerses Capital LLC bought a new stake in shares of Blue Bird during the third quarter worth $53,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of Blue Bird during the third quarter valued at $56,000. 93.59% of the stock is owned by 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.