Zacks: Analysts Set $23.00 Price Target for Blue Bird Corp (NASDAQ:BLBD)

Shares of Blue Bird Corp (NASDAQ:BLBD) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating. Blue Bird’s rating score has improved by 50% from three months ago as a result of a number of analysts’ ratings changes.

Brokers have set a 12 month consensus price objective of $23.00 for the company and are anticipating that the company will post $0.69 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Blue Bird an industry rank of 81 out of 256 based on the ratings given to related companies.

A number of equities research analysts have commented on the company. ValuEngine upgraded Blue Bird from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Stifel Nicolaus upgraded Blue Bird from a “hold” rating to a “buy” rating and increased their price target for the company from $21.00 to $23.00 in a research note on Monday, May 13th.

Blue Bird stock opened at $19.69 on Friday. The company has a 50-day simple moving average of $18.80. Blue Bird has a one year low of $15.67 and a one year high of $26.95. The stock has a market capitalization of $521.00 million, a PE ratio of 11.58 and a beta of 1.01.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Blue Bird had a net margin of 3.45% and a negative return on equity of 78.39%. The business had revenue of $211.64 million during the quarter, compared to analysts’ expectations of $217.80 million. Equities analysts expect that Blue Bird will post 1.52 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of Blue Bird by 3.6% in the first quarter. Rhumbline Advisers now owns 19,345 shares of the company’s stock valued at $328,000 after purchasing an additional 677 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Blue Bird by 52.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,165 shares of the company’s stock valued at $37,000 after purchasing an additional 742 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Blue Bird by 901.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,174 shares of the company’s stock valued at $54,000 after purchasing an additional 2,857 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in shares of Blue Bird by 285.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,287 shares of the company’s stock valued at $78,000 after purchasing an additional 3,175 shares during the period. Finally, Covington Capital Management acquired a new position in shares of Blue Bird in the fourth quarter valued at about $63,000. 98.05% of the stock is currently owned by institutional investors and hedge funds.

About Blue Bird

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments, Bus and Parts. The company offers Type C, Type D, and specialty buses; and alternative fuel applications through its propane-powered, gasoline-powered, compressed natural gas-powered, and electric powered school buses.

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