Blue Bird (NASDAQ:BLBD) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Blue Bird Corporation (NASDAQ:BLBD)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $58.56 and traded as high as $62.05. Blue Bird shares last traded at $61.0220, with a volume of 624,409 shares.

Analyst Upgrades and Downgrades

BLBD has been the topic of a number of recent analyst reports. Roth Capital set a $93.00 price objective on shares of Blue Bird in a research report on Monday, August 10th. BTIG Research lifted their price objective on shares of Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $86.00 target price on shares of Blue Bird in a research note on Thursday, August 6th. Zacks Research downgraded shares of Blue Bird from a “hold” rating to a “strong sell” rating in a research note on Friday, October 2nd. Finally, Freedom Capital raised Blue Bird from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.33.

Blue Bird Stock Performance

The firm’s fifty day moving average price is $58.56 and its 200-day moving average price is $63.19. The company has a current ratio of 1.64, a quick ratio of 0.67 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 0.84 and a beta of 1.46.

Blue Bird (NASDAQ:BLBD) last posted its earnings results on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The firm had revenue of $517.16 million for the quarter, compared to the consensus estimate of $485.73 million. Analysts expect that Blue Bird Corporation will post 4.68 earnings per share for the current year.

Insider Transactions at Blue Bird

In other Blue Bird news, COO Jeffrey Sanfrey sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total transaction of $249,600.00. Following the transaction, the chief operating officer owned 35,011 shares of the company’s stock, valued at approximately $2,184,686.40. This trade represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Blue Bird

A number of hedge funds and other institutional investors have recently made changes to their positions in BLBD. Kilter Group LLC acquired a new position in shares of Blue Bird during the second quarter worth about $25,000. Rockefeller Capital Management L.P. raised its holdings in Blue Bird by 210.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company’s stock worth $36,000 after purchasing an additional 525 shares in the last quarter. Nykredit A S acquired a new stake in Blue Bird in the second quarter valued at about $36,000. Dunhill Financial LLC acquired a new stake in Blue Bird in the second quarter valued at about $39,000. Finally, GAMMA Investing LLC lifted its position in Blue Bird by 85.5% in the second quarter. GAMMA Investing LLC now owns 629 shares of the company’s stock valued at $50,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation (NASDAQ:BLBD) designs, manufactures, and sells school buses in North America. Its product portfolio includes Type A, Type C, and Type D school buses powered by gasoline, diesel, propane, and electric powertrains. The company also provides replacement parts and aftermarket support for its vehicles.

Founded in 1927, Blue Bird is one of the longstanding manufacturers in the school bus industry. Its buses are used by public and private schools, school districts, contractors, and other student transportation providers.