Blue Bird (NASDAQ:BLBD) Price Target Raised to $80.00 at BTIG Research

Key Points

• BTIG Research raised its price target for Blue Bird to $80 (from $65) and kept a "buy" rating, implying roughly a 23% upside; Needham raised its target to $86 and the consensus target is $75.80 with a "Moderate Buy" rating.
• Blue Bird beat Q results, reporting $1.00 EPS vs. $0.80 expected and revenue of $333.1M (up 6.1% YoY), supported by strong profitability (ROE 57.6%, net margin 8.65%).
• COO and CFO recently sold shares (reducing their positions), insiders now own about 1.10% of the stock, while institutional investors hold roughly 93.6%.

Blue Bird (NASDAQ:BLBD - Get Free Report) had its price target hoisted by equities researchers at BTIG Research from $65.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price objective points to a potential upside of 23.00% from the company's current price.

Several other equities analysts also recently weighed in on the company. Zacks Research downgraded Blue Bird from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 6th. Needham & Company LLC increased their target price on shares of Blue Bird from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Thursday. Barclays reaffirmed an "overweight" rating and set a $75.00 price objective on shares of Blue Bird in a research report on Thursday. Finally, Wall Street Zen cut Blue Bird from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 7th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Blue Bird has a consensus rating of "Moderate Buy" and an average target price of $75.80.

Blue Bird Stock Performance

Shares of BLBD stock opened at $65.04 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 1.81. The firm has a market cap of $2.05 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.36 and a beta of 1.38. The firm's 50 day moving average price is $58.92 and its 200-day moving average price is $54.40. Blue Bird has a one year low of $36.01 and a one year high of $66.13.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.20. Blue Bird had a return on equity of 57.60% and a net margin of 8.65%.The company had revenue of $333.08 million for the quarter, compared to analysts' expectations of $325.74 million. During the same period in the prior year, the firm earned $0.92 earnings per share. The firm's revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Blue Bird will post 4.52 EPS for the current year.

Insider Buying and Selling at Blue Bird

In other news, COO Jeffrey Scott Sanfrey sold 5,192 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $58.54, for a total transaction of $303,939.68. Following the completion of the transaction, the chief operating officer directly owned 39,011 shares of the company's stock, valued at approximately $2,283,703.94. This represents a 11.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Razvan Radulescu sold 3,925 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $60.98, for a total value of $239,346.50. Following the completion of the transaction, the chief financial officer owned 42,255 shares in the company, valued at approximately $2,576,709.90. The trade was a 8.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Blue Bird

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its stake in Blue Bird by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 5,793 shares of the company's stock valued at $272,000 after purchasing an additional 372 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Blue Bird by 8.7% during the 4th quarter. Brooklyn Investment Group now owns 5,208 shares of the company's stock worth $261,000 after buying an additional 417 shares during the last quarter. R Squared Ltd boosted its holdings in shares of Blue Bird by 11.0% in the 4th quarter. R Squared Ltd now owns 4,464 shares of the company's stock valued at $210,000 after buying an additional 443 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Blue Bird by 0.7% in the 3rd quarter. HighTower Advisors LLC now owns 67,007 shares of the company's stock valued at $3,856,000 after buying an additional 453 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Blue Bird by 210.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company's stock valued at $36,000 after buying an additional 525 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

About Blue Bird

Blue Bird Corporation NASDAQ: BLBD is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company's core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.

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