Blue Bird (NASDAQ:BLBD) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a report released on Monday morning.

A number of other analysts also recently issued reports on the stock. Roth Mkm downgraded shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a report on Thursday, October 3rd. Craig Hallum upped their price objective on shares of Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Roth Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Bank of America reduced their price target on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blue Bird has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

Blue Bird Stock Down 3.7 %

Blue Bird stock opened at $42.75 on Monday. Blue Bird has a 52 week low of $24.08 and a 52 week high of $59.40. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59. The business’s 50-day moving average price is $41.89 and its 200 day moving average price is $47.36. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling

In related news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total value of $822,244.19. Following the completion of the transaction, the chief financial officer now directly owns 89,347 shares of the company’s stock, valued at approximately $3,832,092.83. This represents a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blue Bird

A number of hedge funds have recently modified their holdings of the business. Axxcess Wealth Management LLC purchased a new stake in Blue Bird during the 3rd quarter valued at about $987,000. Charles Schwab Investment Management Inc. grew its position in shares of Blue Bird by 34.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 308,253 shares of the company’s stock valued at $14,784,000 after purchasing an additional 79,129 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Blue Bird by 95.9% in the third quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock valued at $2,504,000 after purchasing an additional 25,563 shares during the last quarter. Algert Global LLC lifted its position in Blue Bird by 360.0% during the second quarter. Algert Global LLC now owns 105,651 shares of the company’s stock worth $5,689,000 after buying an additional 82,681 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Blue Bird by 60.7% during the third quarter. Principal Financial Group Inc. now owns 58,019 shares of the company’s stock worth $2,783,000 after buying an additional 21,919 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.