Blue Bird (NASDAQ:BLBD) Stock Jumps 4.1% - Still a Buy?

Key Points

• Blue Bird shares rose 4.1% to $57.84, though trading volume was 86% below the average session level.
• Analysts remain broadly bullish: the stock has an average “Buy” rating and an $85.33 consensus price target, with several firms recently raising targets.
• The company exceeded quarterly expectations, reporting $1.28 in EPS versus $1.25 expected and $517.16 million in revenue versus $485.73 million expected; institutional investors own 93.59% of shares.

Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) shares rose 4.1% on Friday. The stock traded as high as $57.95 and last traded at $57.84. 67,968 shares were traded during trading, a decline of 86% from the average session volume of 471,775 shares. The stock had previously closed at $55.58.

Analyst Ratings Changes

BLBD has been the subject of several analyst reports. Barclays lifted their price objective on shares of Blue Bird from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Zacks Research upgraded Blue Bird from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 7th. BTIG Research increased their price objective on Blue Bird from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen raised Blue Bird from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Finally, Roth Capital set a $93.00 price target on Blue Bird in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $85.33.

Blue Bird Trading Up 5.0%

The firm has a market capitalization of $1.85 billion, a P/E ratio of 7.10, a PEG ratio of 0.77 and a beta of 1.36. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $66.09 and a 200-day moving average price of $66.52.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 17.48% and a return on equity of 39.97%. Analysts anticipate that Blue Bird Corporation will post 4.68 earnings per share for the current year.

Insider Activity at Blue Bird

In other news, COO Jeffrey Sanfrey sold 4,000 shares of the firm's stock in a transaction on Wednesday, September 16th. The stock was 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 in the company, valued at approximately $2,184,686.40. This trade represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Blue Bird

A number of hedge funds have recently added to or reduced their stakes in BLBD. BlackRock Inc. acquired a new position in shares of Blue Bird in the 2nd quarter valued at $207,493,000. Jupiter Topco LLC bought a new position in shares of Blue Bird in the 2nd quarter worth $94,222,000. Bank of America Corp DE acquired a new stake in shares of Blue Bird during the second quarter worth $63,565,000. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Blue Bird during the second quarter worth $51,129,758. Finally, Empowered Funds LLC bought a new stake in Blue Bird in the second quarter valued at about $28,896,000. Institutional investors own 93.59% of the company's stock.

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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