Blue Bird (NASDAQ:BLBD) Upgraded to Buy by StockNews.com

Blue Bird Corporation (NASDAQ:BLBD) recently made headlines as equities research analysts at StockNews.com upgraded the stock from a "hold" rating to a "buy" rating in a communication released to investors on Tuesday.

The stock has not only been evaluated by StockNews.com but has also drawn attention from various financial analysts in recent months. Notably, Bank of America adjusted its price target for Blue Bird from $66.00 to $63.50 while retaining a "buy" rating in a report issued on November 26th. This adjustment reflects a cautious yet optimistic outlook for the company.

Further developments came from BTIG Research, which initiated coverage of Blue Bird on October 9th, giving it a "buy" rating and a price target of $55.00. Conversely, Roth Capital downgraded their rating from "strong-buy" to "hold" on October 3rd, while Roth MKM also changed its stance, moving from a "buy" to a "neutral" rating with a target price set at $48.00.

Craig Hallum, another research firm, lifted its price target from $68.00 to $71.00 on November 26th while maintaining a "buy" rating for Blue Bird. In total, out of the analysts covering the stock, two have assigned hold ratings, whereas seven have indicated buy ratings, suggesting a generally positive sentiment for investors. According to MarketBeat.com, Blue Bird currently holds an average rating of "Moderate Buy" coupled with an average price objective of $60.64.

Blue Bird's Recent Price Performance

On Tuesday, shares of Blue Bird opened at $38.85. The stock has a 50-day moving average of $41.51 and a 200-day moving average of $46.82, indicating varied investor activity in recent months. Over the past year, the stock hit a low of $24.08 and reached a high of $59.40. As for its financial health, the company has a current ratio of 1.37 and a quick ratio of 0.83, with a debt-to-equity ratio of 0.56. The market capitalization stands at approximately $1.25 billion, with a price-to-earnings (PE) ratio of 12.22 and a price-to-earnings growth (PEG) ratio of 1.05, alongside a beta of 1.59.

Insider Trading Activity

In related news, Blue Bird’s Chief Financial Officer, Razvan Radulescu, recently sold 19,171 shares of the company on December 17th, 2024. The shares were offloaded at an average price of $42.89, summing up to a total transaction value of approximately $822,244. Following this sale, Radulescu now retains ownership of 89,347 shares, valued roughly at $3,832,092.83, marking a 17.67% decrease in his total stock ownership. This trade was duly reported in a filing with the Securities and Exchange Commission.

Institutional Investor Activity

Institutional trading has also seen significant activity surrounding Blue Bird's stock. Several institutional investors and hedge funds have initiated and changed their positions recently. For instance, National Bank of Canada FI acquired a small stake valued at about $26,000 in the third quarter. Other investors like Truvestments Capital LLC and Private Trust Co. NA also bought shares, further diversifying their portfolios.

In total, institutional ownership accounts for about 93.59% of the company's stock, showcasing a strong confidence among major investors. This institutional backing may bolster Blue Bird's position in the market going forward.

About Blue Bird Corporation

Blue Bird Corporation specializes in designing, engineering, manufacturing, and selling school buses across the United States, Canada, and other international markets. The company operates through two main segments: Bus and Parts. Blue Bird offers a variety of bus types including Type C and Type D buses, and provides alternative fuel options, such as propane, gasoline, compressed natural gas, and electric-powered school buses.

Conclusion

The recent upgrade by StockNews.com and the accompanying adjustments by various financial institutions indicate a growing interest and optimism in Blue Bird's potential performance in the market. Investors may want to closely monitor market developments and analyses as these can significantly influence stock performance.

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