Blue Bird (NASDAQ:BLBD) Stock Price Up 5.9% – Here’s Why

Shares of Blue Bird Co. (NASDAQ:BLBD) were up 5.9% during trading on Friday . The stock traded as high as $42.81 and last traded at $42.68. Approximately 724,328 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 620,812 shares. The stock had previously closed at $40.29.

Analyst Ratings Changes

Several research analysts recently issued reports on BLBD shares. Bank of America cut their price objective on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research report on Tuesday, November 26th. StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research report on Thursday, October 3rd. BTIG Research assumed coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Craig Hallum lifted their price target on shares of Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.64.

Blue Bird Stock Performance

The stock’s 50 day moving average price is $40.66 and its 200 day moving average price is $45.45. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.10 and a beta of 1.58.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total transaction 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 $3,832,092.83. This represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Blue Bird

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in Blue Bird by 11.7% in the second quarter. Rhumbline Advisers now owns 43,121 shares of the company’s stock valued at $2,322,000 after buying an additional 4,528 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Blue Bird during the 2nd quarter valued at $522,000. American Century Companies Inc. lifted its holdings in shares of Blue Bird by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 84,388 shares of the company’s stock valued at $4,544,000 after acquiring an additional 13,207 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Blue Bird during the 2nd quarter worth $81,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in Blue Bird in the 2nd quarter valued at $510,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

About Blue Bird

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.