Notable Mover: Hennessy Capital Acquisition Corp’s Stock Is Buy After Reaching Record High

Notable Mover: Hennessy Capital Acquisition Corp's Stock Is Buy After Reaching Record High

The stock of Hennessy Capital Acquisition Corp (NASDAQ:BLBD) reached all time high today, Nov, 22 and still has $16.80 target or 4.00% above today’s $16.15 share price. This indicates more upside for the $352.88 million company. This technical setup was reported by Barchart.com. If the $16.80 PT is reached, the company will be worth $14.12M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 54,224 shares traded hands or 19.52% up from the average. Hennessy Capital Acquisition Corp (NASDAQ:BLBD) has risen 45.22% since April 20, 2016 and is uptrending. It has outperformed by 40.66% the S&P500.

Analysts await Hennessy Capital Acquisition Corp (NASDAQ:BLBD) to report earnings on December, 20. They expect $0.43 earnings per share, down 33.85% or $0.22 from last year’s $0.65 per share. BLBD’s profit will be $9.40 million for 9.39 P/E if the $0.43 EPS becomes a reality. After $0.42 actual earnings per share reported by Hennessy Capital Acquisition Corp for the previous quarter, Wall Street now forecasts 2.38% EPS growth.

Hennessy Capital Acquisition Corp (NASDAQ:BLBD) Ratings Coverage

Out of 2 analysts covering Blue Bird Corporation (NASDAQ:BLBD), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Blue Bird Corporation has been the topic of 4 analyst reports since September 16, 2015 according to StockzIntelligence Inc. On Wednesday, September 16 the stock rating was initiated by BMO Capital Markets with “Outperform”. Craig Hallum maintained Hennessy Capital Acquisition Corp (NASDAQ:BLBD) on Friday, August 5 with “Buy” rating. The stock has “Buy” rating given by Craig Hallum on Monday, March 7.

According to Zacks Investment Research, “Blue Bird Corp. is engaged in the designing, engineering, manufacturing and sale of school buses and related parts. It also offers alternative fuel applications with its propane-powered and compressed natural gas-powered school buses. Blue Bird Corp. is headquartered in Cambridge, Massachusetts.”

More notable recent Hennessy Capital Acquisition Corp (NASDAQ:BLBD) news were published by: Globenewswire.com which released: “Hennessy Capital Acquisition Corp. II Announces Termination of Merger …” on October 04, 2016, also Globenewswire.com with their article: “Hennessy Capital Acquisition Corp. II Announces Agreement in Principle with …” published on June 28, 2016, Reuters.com published: “BRIEF-Hennessy Capital Acquisition Corp II postpones special meeting of st…” on July 21, 2016. More interesting news about Hennessy Capital Acquisition Corp (NASDAQ:BLBD) were released by: Globenewswire.com and their article: “Hennessy Capital Acquisition Corp. II and USI Announce Merger Agreement” published on April 04, 2016 as well as Globenewswire.com‘s news article titled: “Hennessy Capital Acquisition Corp. II Announces Postponement of Special …” with publication date: July 21, 2016.

BLBD Company Profile

Blue Bird Corporation, formerly Hennessy Capital Acquisition Corp., incorporated on September 24, 2013, is an independent designer and maker of school buses. The Firm manages its business in two divisions: the Bus segment, which involves the design, engineering, manufacture and sales of school buses and extended warranties, and the Parts segment, which includes the sales of replacement bus parts.

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