Blue Bird (NASDAQ:BLBD) Stock Jumps 4.1% – Here’s Why

Shares of Blue Bird Corporation (NASDAQ:BLBD) rose 4.1% during trading on Friday. The company traded as high as $57.95 and last traded at $57.84. 67,968 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 471,775 shares. The stock had previously closed at $55.58.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DA Davidson increased their target price on Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. BTIG Research increased their price target on Blue Bird from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Zacks Research upgraded Blue Bird from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Roth Capital set a $93.00 price target on shares of Blue Bird in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $85.33.

Blue Bird Trading Up 5.0%

The business has a fifty day simple moving average of $66.09 and a 200-day simple moving average of $66.52. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.67 and a current ratio of 1.64.

Blue Bird (NASDAQ:BLBD) last announced its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.03. Blue Bird had a return on equity of 39.97% and a net margin of 17.48%.The business had revenue of $517.16 million during the quarter, compared to analyst estimates of $485.73 million. As a group, equities analysts forecast that Blue Bird Corporation will post 4.68 earnings per share for the current fiscal year.

Insider Transactions at Blue Bird

In related news, COO Jeffrey Sanfrey sold 4,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total value of $249,600.00. Following the transaction, the chief operating officer directly owned 35,011 shares in the company, valued at $2,184,686.40. This trade represents a 10.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in shares of Blue Bird in the second quarter valued at $134,000. IFP Advisors Inc raised its holdings in shares of Blue Bird by 53.5% in the 2nd quarter. IFP Advisors Inc now owns 1,412 shares of the company’s stock worth $111,000 after acquiring an additional 492 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Blue Bird by 51.2% in the 2nd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $76,000 after acquiring an additional 324 shares during the last quarter. Nykredit A S bought a new position in Blue Bird in the 2nd quarter valued at about $36,000. Finally, Corient Private Wealth LP acquired a new position in Blue Bird during the 2nd quarter valued at about $252,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Blue Bird

Blue Bird Corporation designs and manufactures school buses for public and private school districts, pupil transportation operators and other organizations. Its product portfolio includes conventional Type C buses, transit-style Type D buses and smaller buses, with powertrain options that include electric, propane and gasoline.

The company also provides replacement parts and support services for its buses through a network of dealers and service locations. Blue Bird emphasizes alternative-fuel and zero-emission transportation solutions, including battery-electric school buses, alongside conventional products.

Founded in 1927, Blue Bird is headquartered in Macon, Georgia.