Blue Bird (NASDAQ:BLBD) Share Price Passes Above 50-Day Moving Average – Here’s Why

Blue Bird Corporation (NASDAQ:BLBD) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $55.23 and traded as high as $55.83. Blue Bird shares last traded at $54.42, with a volume of 233,045 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BLBD. Zacks Research lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. BTIG Research restated a “buy” rating and issued a $65.00 price target on shares of Blue Bird in a research report on Thursday, February 5th. Needham & Company LLC upped their price objective on Blue Bird from $70.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Barclays increased their target price on Blue Bird from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen cut Blue Bird from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.20.

Blue Bird Trading Down 1.3%

The company’s fifty day simple moving average is $55.23 and its two-hundred day simple moving average is $53.52. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.40. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.31.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.20. The company had revenue of $333.08 million during the quarter, compared to analyst estimates of $325.74 million. Blue Bird had a net margin of 8.65% and a return on equity of 57.60%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Research analysts forecast that Blue Bird Corporation will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In other Blue Bird news, CFO Razvan Radulescu sold 3,925 shares of Blue Bird stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $60.98, for a total value of $239,346.50. Following the transaction, the chief financial officer owned 42,255 shares of the company’s stock, valued at approximately $2,576,709.90. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey Scott Sanfrey sold 5,192 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $58.54, for a total transaction of $303,939.68. Following the completion of the transaction, the chief operating officer owned 39,011 shares of the company’s stock, valued at $2,283,703.94. This trade represents a 11.75% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blue Bird

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Blue Bird by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 2,041,085 shares of the company’s stock valued at $95,931,000 after purchasing an additional 135,562 shares during the period. Wellington Management Group LLP grew its holdings in shares of Blue Bird by 0.8% during the fourth quarter. Wellington Management Group LLP now owns 1,048,028 shares of the company’s stock worth $49,257,000 after buying an additional 8,430 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Blue Bird by 185.6% during the third quarter. JPMorgan Chase & Co. now owns 925,852 shares of the company’s stock worth $53,283,000 after buying an additional 601,690 shares in the last quarter. First Trust Advisors LP raised its position in Blue Bird by 14.5% in the 4th quarter. First Trust Advisors LP now owns 865,136 shares of the company’s stock valued at $40,661,000 after buying an additional 109,668 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Blue Bird by 12.2% in the 4th quarter. Janus Henderson Group PLC now owns 777,625 shares of the company’s stock valued at $36,534,000 after acquiring an additional 84,488 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

About Blue Bird

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.