Blue Bird Corporation (NASDAQ:BLBD) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Blue Bird has a consensus “Buy” rating from nine brokerages: seven buys, one strong buy, and one hold. The average 12-month price target is $85.33, with recent targets ranging from $85 to $95.
• The company exceeded quarterly expectations, reporting $1.28 in EPS versus the $1.25 consensus and revenue of $517.16 million versus estimates of $485.73 million. Analysts expect full-year EPS of approximately $4.68.
• BLBD opened at $56.53, below its 50-day and 200-day moving averages, while institutional investors own 93.59% of the stock. COO Jeffrey Sanfrey recently sold 4,000 shares valued at $249,600.

Shares of Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) have been assigned a consensus rating of "Buy" from the nine brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $85.33.

BLBD has been the topic of several recent research reports. Barclays upped their target price on shares of Blue Bird from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Zacks Research upgraded Blue Bird from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. BTIG Research boosted their price objective on Blue Bird from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen downgraded Blue Bird from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Needham & Company LLC restated a "buy" rating and set a $86.00 price objective on shares of Blue Bird in a research report on Thursday, August 6th.

Blue Bird Price Performance

NASDAQ:BLBD opened at $56.53 on Monday. The business's 50-day simple moving average is $63.37 and its two-hundred day simple moving average is $66.64. Blue Bird has a 52 week low of $46.14 and a 52 week high of $83.39. The stock has a market cap of $1.77 billion, a PE ratio of 6.88, a P/E/G ratio of 0.83 and a beta of 1.37. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

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

Insider Activity

In other Blue Bird news, COO Jeffrey Sanfrey sold 4,000 shares of the firm's stock in a transaction dated 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 owned 35,011 shares of the company's stock, valued at $2,184,686.40. This trade represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Blue Bird

A number of hedge funds have recently added to or reduced their stakes in BLBD. Kilter Group LLC purchased a new stake in shares of Blue Bird in the second quarter valued at approximately $25,000. Rockefeller Capital Management L.P. grew its stake in Blue Bird by 210.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company's stock valued at $36,000 after purchasing an additional 525 shares during the last quarter. Nykredit A S purchased a new position in shares of Blue Bird in the 2nd quarter worth approximately $36,000. Dunhill Financial LLC acquired a new position in shares of Blue Bird during the second quarter worth $39,000. Finally, GAMMA Investing LLC increased its position in Blue Bird by 85.5% during the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company's stock valued at $50,000 after buying an additional 290 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors.

About Blue Bird

Blue Bird Corporation designs and manufactures school buses for use by public school districts, private schools, and other student transportation providers. The company is one of the leading independent school bus manufacturers in North America and offers vehicles intended to transport students safely and efficiently in a range of operating environments.

Blue Bird's product portfolio includes Type A, Type C, and Type D school buses. Its buses are available with multiple powertrain options, including electric, propane, gasoline, and diesel configurations, allowing customers to select vehicles based on route requirements, infrastructure, emissions goals, and operating preferences.

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