Blue Bird (NASDAQ:BLBD) Stock Price Down 2.1% – Here’s Why

Blue Bird Co. (NASDAQ:BLBD) shares traded down 2.1% on Friday . The stock traded as low as $39.59 and last traded at $39.89. Approximately 235,273 shares traded hands during trading, a decline of 63% from the average daily volume of 627,626 shares. The stock had previously closed at $40.73.

Analyst Upgrades and Downgrades

BLBD has been the topic of several research analyst reports. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research note on Friday, December 13th. Roth Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Craig Hallum upped their price objective on Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America cut their target price on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Stock Performance

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 stock has a market capitalization of $1.27 billion, a PE ratio of 12.41, a P/E/G ratio of 1.05 and a beta of 1.59. The firm has a fifty day moving average price of $41.85 and a two-hundred day moving average price of $47.31.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 89,347 shares in the company, valued at approximately $3,832,092.83. This trade represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Blue Bird

Hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in Blue Bird by 268.0% during the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company’s stock valued at $88,330,000 after purchasing an additional 1,341,259 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Blue Bird by 26.2% in the third quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock worth $36,084,000 after acquiring an additional 156,298 shares during the period. State Street Corp raised its holdings in shares of Blue Bird by 8.4% during the third quarter. State Street Corp now owns 725,573 shares of the company’s stock worth $34,798,000 after purchasing an additional 56,449 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Blue Bird by 0.4% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company’s stock valued at $30,499,000 after purchasing an additional 2,598 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Blue Bird by 81.7% in the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock valued at $27,432,000 after purchasing an additional 229,004 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.