Blue Bird (NASDAQ:BLBD) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Blue Bird Corporation (NASDAQ:BLBD) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $73.00 and traded as high as $78.54. Blue Bird shares last traded at $77.68, with a volume of 362,094 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BLBD shares. Roth Capital initiated coverage on Blue Bird in a research note on Thursday, June 25th. They set a “buy” rating and a $94.00 target price for the company. Needham & Company LLC increased their price target on shares of Blue Bird from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Blue Bird from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Barclays raised their price objective on shares of Blue Bird from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, DA Davidson set a $86.00 target price on shares of Blue Bird in a report on Tuesday, June 9th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Blue Bird Trading Up 1.1%

The business has a 50-day moving average of $73.00 and a 200-day moving average of $61.97. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.04 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.83.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. Blue Bird had a return on equity of 53.68% and a net margin of 8.91%.The company had revenue of $352.63 million for the quarter, compared to analyst estimates of $335.23 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, research analysts forecast that Blue Bird Corporation will post 4.5 EPS for the current year.

Hedge Funds Weigh In On Blue Bird

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Blue Bird by 85.5% during the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company’s stock worth $50,000 after purchasing an additional 290 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Blue Bird by 10,028.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 702 shares during the period. Rockefeller Capital Management L.P. increased its stake in Blue Bird by 210.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company’s stock valued at $36,000 after purchasing an additional 525 shares during the period. Transamerica Financial Advisors LLC raised its holdings in shares of Blue Bird by 222.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 823 shares of the company’s stock valued at $39,000 after buying an additional 568 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Blue Bird in the fourth quarter valued at about $41,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Blue Bird Company Profile

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.