Blue Bird (NASDAQ:BLBD) Downgraded by StockNews.com to “Hold”

Blue Bird (NASDAQ:BLBD) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of Blue Bird in a research report on Friday. BTIG Research started coverage on shares of Blue Bird in a report on Wednesday, October 9th. They set a “buy” rating and a $55.00 price objective on the stock. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a report on Thursday, October 3rd. Craig Hallum lifted their price target on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Roth Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.64.

Blue Bird Stock Performance

Blue Bird stock traded up $0.67 during trading hours on Monday, reaching $44.38. 717,986 shares of the stock were exchanged, compared to its average volume of 626,059. Blue Bird has a 52-week low of $24.08 and a 52-week high of $59.40. The stock has a market cap of $1.43 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.05 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 1.37. The firm’s 50 day moving average is $41.84 and its 200 day moving average is $47.48.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. FMR LLC increased its stake in Blue Bird by 268.0% during the third quarter. FMR LLC now owns 1,841,745 shares of the company’s stock valued at $88,330,000 after purchasing an additional 1,341,259 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Blue Bird by 26.2% during the 3rd quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock valued at $36,084,000 after buying an additional 156,298 shares during the last quarter. State Street Corp raised its stake in Blue Bird by 8.4% during the third quarter. State Street Corp now owns 725,573 shares of the company’s stock worth $34,798,000 after acquiring an additional 56,449 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Blue Bird by 0.4% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company’s stock worth $30,499,000 after acquiring an additional 2,598 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Blue Bird by 81.7% in the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock worth $27,432,000 after acquiring an additional 229,004 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.

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.