Blue Bird’s (BLBD) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Blue Bird (NASDAQ:BLBD) in a research note published on Friday,Benzinga reports. The brokerage currently has a $66.00 target price on the stock.

A number of other research firms have also recently commented on BLBD. BTIG Research started coverage on Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective on the stock. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a report on Thursday, October 3rd. Craig Hallum boosted their price objective on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Roth Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $43.71 on Friday. The company’s 50-day moving average is $41.78 and its two-hundred day moving average is $47.75. Blue Bird has a 1-year low of $23.76 and a 1-year high of $59.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.05 and a beta of 1.59.

Institutional Investors Weigh In On Blue Bird

A number of large investors have recently modified their holdings of the company. Quarry LP increased its holdings in shares of Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock valued at $63,000 after acquiring an additional 358 shares during the last quarter. Savant Capital LLC boosted its holdings in Blue Bird by 3.4% in the second quarter. Savant Capital LLC now owns 11,473 shares of the company’s stock valued at $618,000 after purchasing an additional 382 shares in the last quarter. Macroview Investment Management LLC acquired a new position in Blue Bird in the second quarter valued at approximately $29,000. National Bank of Canada FI purchased a new position in Blue Bird in the third quarter valued at approximately $26,000. Finally, Townsquare Capital LLC raised its holdings in Blue Bird by 9.3% during the third quarter. Townsquare Capital LLC now owns 8,235 shares of the company’s stock worth $395,000 after purchasing an additional 700 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, 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.