Blue Bird (NASDAQ:BLBD) Price Target Increased to $65.00 by Analysts at Craig Hallum

Blue Bird (NASDAQ:BLBD) had its price target boosted by stock analysts at Craig Hallum from $54.00 to $65.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target indicates a potential upside of 19.18% from the stock’s current price.

A number of other research analysts also recently commented on BLBD. DA Davidson increased their price target on Blue Bird from $44.00 to $66.00 and gave the company a “buy” rating in a report on Monday, May 20th. Roth Mkm upped their price objective on Blue Bird from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Barclays lifted their target price on Blue Bird from $35.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Finally, Needham & Company LLC boosted their price target on Blue Bird from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $49.25.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $54.54 on Friday. Blue Bird has a 1-year low of $17.59 and a 1-year high of $56.41. The stock has a market cap of $1.76 billion, a P/E ratio of 22.08, a PEG ratio of 0.44 and a beta of 1.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.56. The firm has a 50-day moving average of $39.67 and a two-hundred day moving average of $31.03.

Insider Activity at Blue Bird

In other news, President Britton Smith sold 6,228 shares of Blue Bird stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $33.49, for a total transaction of $208,575.72. Following the sale, the president now owns 87,250 shares of the company’s stock, valued at $2,922,002.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd bought a new stake in shares of Blue Bird in the 1st quarter worth $29,000. CWM LLC lifted its holdings in shares of Blue Bird by 220.1% during the fourth quarter. CWM LLC now owns 1,290 shares of the company’s stock valued at $35,000 after purchasing an additional 887 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Blue Bird in the 4th quarter valued at $66,000. Tucker Asset Management LLC increased its stake in Blue Bird by 568.8% in the 3rd quarter. Tucker Asset Management LLC now owns 3,792 shares of the company’s stock worth $81,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Blue Bird during the 4th quarter worth about $89,000. 93.59% of the stock is currently owned by institutional investors.

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.