Zacks: Blue Bird Corp (BLBD) Given $23.50 Average Target Price by Analysts

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Shares of Blue Bird Corp (NASDAQ:BLBD) have received a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Brokerages have set a 12-month consensus target price of $23.50 for the company and are expecting that the company will post $0.68 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Blue Bird an industry rank of 173 out of 255 based on the ratings given to related companies.

BLBD has been the topic of several recent analyst reports. BidaskClub upgraded shares of Blue Bird from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Roth Capital set a $24.00 price objective on shares of Blue Bird and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, ValuEngine lowered shares of Blue Bird from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th.

Shares of Blue Bird stock traded down $0.28 during mid-day trading on Wednesday, hitting $19.63. The stock had a trading volume of 209,607 shares, compared to its average volume of 130,096. Blue Bird has a 12-month low of $15.66 and a 12-month high of $26.95. The company has a debt-to-equity ratio of -2.56, a current ratio of 1.06 and a quick ratio of 0.44. The stock has a market cap of $538.28 million, a price-to-earnings ratio of 15.83 and a beta of 1.12.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.65 by $0.26. Blue Bird had a net margin of 3.02% and a negative return on equity of 45.73%. The firm had revenue of $314.19 million for the quarter, compared to analyst estimates of $320.90 million. Equities analysts expect that Blue Bird will post 1.55 earnings per share for the current fiscal year.

In other news, Director Daniel J. Hennessy sold 27,887 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $22.84, for a total value of $636,939.08. Following the transaction, the director now directly owns 5,053 shares in the company, valued at approximately $115,410.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Hennessy sold 8,013 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $22.91, for a total transaction of $183,577.83. Following the completion of the transaction, the director now owns 50,178 shares in the company, valued at $1,149,577.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,005,750 shares of company stock worth $27,976,317. Company insiders own 3.40% of the company’s stock.

Several hedge funds have recently modified their holdings of BLBD. Wells Fargo & Company MN lifted its holdings in Blue Bird by 35.5% during the 1st quarter. Wells Fargo & Company MN now owns 117,633 shares of the company’s stock worth $2,788,000 after buying an additional 30,839 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Blue Bird by 55.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 20,200 shares of the company’s stock worth $479,000 after buying an additional 7,200 shares in the last quarter. Northern Trust Corp lifted its holdings in Blue Bird by 63.0% during the 1st quarter. Northern Trust Corp now owns 130,044 shares of the company’s stock worth $3,082,000 after buying an additional 50,248 shares in the last quarter. BlackRock Inc. lifted its holdings in Blue Bird by 51.2% during the 1st quarter. BlackRock Inc. now owns 544,551 shares of the company’s stock worth $12,905,000 after buying an additional 184,451 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Blue Bird by 30.8% during the 1st quarter. New York State Common Retirement Fund now owns 13,734 shares of the company’s stock worth $325,000 after buying an additional 3,234 shares in the last quarter. Hedge funds and other institutional investors own 97.17% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and aftermarket parts in the United States, Canada, and internationally. The company operates through two segments, Buses and Aftermarket Parts. It offers Type C, Type D, and specialty buses, as well as Sigma, a bus for public transportation.

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