Blue Bird (NASDAQ:BLBD) Hits New 12-Month High at $53.50

Shares of Blue Bird Co. (NASDAQ:BLBD) reached a new 52-week high during trading on Wednesday . The stock traded as high as $53.50 and last traded at $53.20, with a volume of 353475 shares. The stock had previously closed at $50.26.

Analysts Set New Price Targets

BLBD has been the topic of several analyst reports. Needham & Company LLC increased their price target on shares of Blue Bird from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Roth Mkm lifted their price objective on Blue Bird from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Barclays increased their target price on Blue Bird from $35.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Blue Bird currently has an average rating of “Buy” and a consensus price target of $40.50.

Blue Bird Stock Performance

The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 0.44 and a beta of 1.40. The company has a current ratio of 1.23, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $36.69 and a 200 day simple moving average of $29.30.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, major shareholder Asp Bb Holdings Llc sold 4,042,650 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.90, for a total value of $133,003,185.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blue Bird news, President Britton Smith sold 6,228 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $33.49, for a total value of $208,575.72. Following the completion of the transaction, the president now directly owns 87,250 shares of the company’s stock, valued at $2,922,002.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Asp Bb Holdings Llc sold 4,042,650 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.90, for a total transaction of $133,003,185.00. The disclosure for this sale can be found here. Insiders have sold 4,057,597 shares of company stock worth $133,485,973 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Blue Bird

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd acquired a new stake in Blue Bird in the first quarter worth about $29,000. CWM LLC boosted its stake in shares of Blue Bird by 220.1% in the 4th 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 stake in shares of Blue Bird during the 4th quarter worth approximately $66,000. Virtus Investment Advisers Inc. acquired a new position in Blue Bird in the first quarter valued at approximately $120,000. Finally, Victory Capital Management Inc. acquired a new stake in Blue Bird during the 4th quarter worth $89,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Blue Bird Company Profile

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.