Blue Bird (NASDAQ:BLBD) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Blue Bird to “Buy” from “Hold,” adding to broadly positive analyst sentiment. The stock has an average “Buy” rating and a consensus price target of $85.33.
• Blue Bird reported quarterly EPS of $1.28, exceeding estimates of $1.25, while revenue of $517.16 million surpassed expectations of $485.73 million.
• Shares opened at $60.43, below their 50-day and 200-day moving averages, while institutional investors own 93.59% of the company. COO Jeffrey Sanfrey also sold 4,000 shares at an average price of $62.40.

Blue Bird (NASDAQ:BLBD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Barclays raised their price target on Blue Bird from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. DA Davidson raised their target price on Blue Bird from $86.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Freedom Capital upgraded Blue Bird from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Zacks Research upgraded shares of Blue Bird from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, BTIG Research upped their target price on shares of Blue Bird from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $85.33.

Blue Bird Price Performance

Shares of NASDAQ:BLBD opened at $60.43 on Friday. The business has a fifty day moving average price of $67.62 and a 200-day moving average price of $66.42. 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 company has a market capitalization of $1.91 billion, a PE ratio of 7.35, a PEG ratio of 0.79 and a beta of 1.36. Blue Bird has a 1-year low of $46.14 and a 1-year high of $83.39.

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

Insider Transactions at Blue Bird

In related news, COO Jeffrey Sanfrey sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $62.40, for a total value of $249,600.00. Following the completion of the sale, the chief operating officer directly owned 35,011 shares of the company's stock, valued at approximately $2,184,686.40. This represents a 10.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Blue Bird

Hedge funds and other institutional investors have recently modified their holdings of the company. Triumph Capital Management raised its position in shares of Blue Bird by 24.7% during the 2nd quarter. Triumph Capital Management now owns 842 shares of the company's stock valued at $66,000 after purchasing an additional 167 shares during the period. GAMMA Investing LLC boosted its holdings in Blue Bird by 85.5% in the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company's stock worth $50,000 after buying an additional 290 shares during the period. Kilter Group LLC purchased a new stake in Blue Bird in the 2nd quarter worth $25,000. Quantinno Capital Management LP raised its holdings in Blue Bird by 7.0% during the first quarter. Quantinno Capital Management LP now owns 4,950 shares of the company's stock valued at $281,000 after acquiring an additional 324 shares during the period. Finally, Allworth Financial LP lifted its holdings in Blue Bird by 51.2% in the 2nd quarter. Allworth Financial LP now owns 957 shares of the company's stock worth $76,000 after purchasing an additional 324 shares in the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Company Profile

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.

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