Roth Capital Issues a Buy Rating on Blue Bird Corp

By Ryan Adsit

Roth Capital analyst Matt Koranda reiterated a Buy rating on Blue Bird Corp (NASDAQ: BLBD) yesterday and set a price target of $19.50. The company’s shares opened today at $17.75.

Koranda noted:

“We attended a recent BLBD Product Immersion Tour (PIT Stop) event in Arlington Heights, Illinois, where we had an opportunity to interact with suppliers/dealers/customers and operate buses equipped with various powertrains (including the Cummins 5.0L, Ford/Roush Cleantech CNG, and Ford/Roush propane offerings). Separately, we also conducted a round of industry checks that appear positive for both the industry and BLBD.”

According to TipRanks.com, Koranda is a 3-star analyst with an average return of 2.6% and a 43.2% success rate. Koranda covers the Consumer Goods sector, focusing on stocks such as Motorcar Parts Of America, Cooper-Standard Holdings, and Pioneer Power Solutions.

Blue Bird Corp has an analyst consensus of Moderate Buy.

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Blue Bird Corp. designs, manufactures, and sells school buses. It operates through two segments: Bus and Aftermarket Parts. The Bus segment is involved in the design, manufacture, engineering and sale of school buses and extended warranties across the United States, Canada and international markets. The Aftermarket Parts segment engages in the sale of replacement bus parts within the company’s network. Blue Bird was founded by Albert Laurence Luce in 1927 and is headquartered in Fort Valley, GA.