Stock of The Day: Hennessy Capital Acquisition Corp Sets 52-Week High; Strong Momentum for Holders

Stock of The Day: Hennessy Capital Acquisition Corp Sets 52 Week High; Strong Momentum for Holders

The stock of Hennessy Capital Acquisition Corp (NASDAQ:BLBD) hit a new 52-week high and has $17.48 target or 5.00% above today’s $16.65 share price. The 9 months bullish chart indicates low risk for the $368.52 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $17.48 price target is reached, the company will be worth $18.43 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 36,903 shares traded hands. Hennessy Capital Acquisition Corp (NASDAQ:BLBD) has risen 52.92% since April 25, 2016 and is uptrending. It has outperformed by 46.91% the S&P500.

Analysts await Hennessy Capital Acquisition Corp (NASDAQ:BLBD) to report earnings on December, 20. They expect $0.43 EPS, down 33.85% or $0.22 from last year’s $0.65 per share. BLBD’s profit will be $9.52M for 9.68 P/E if the $0.43 EPS becomes a reality. After $0.42 actual EPS 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. $23 is the highest target while $11.50 is the lowest. The $17.25 average target is 3.60% above today’s ($16.65) stock price. Blue Bird Corporation has been the topic of 4 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Craig Hallum initiated the stock with “Buy” rating in Monday, March 7 report. BMO Capital Markets initiated Hennessy Capital Acquisition Corp (NASDAQ:BLBD) rating on Wednesday, September 16. BMO Capital Markets has “Outperform” rating and $14 price target. Craig Hallum maintained Hennessy Capital Acquisition Corp (NASDAQ:BLBD) rating on Friday, August 5. Craig Hallum has “Buy” rating and $23 price target.

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, Globenewswire.com published: “Hennessy Capital Acquisition Corp. II and USI Announce Merger Agreement” on April 04, 2016. More interesting news about Hennessy Capital Acquisition Corp (NASDAQ:BLBD) were released by: Globenewswire.com and their article: “Hennessy Capital Acquisition Corp. II Announces Postponement of Special …” published on July 21, 2016 as well as Globenewswire.com‘s news article titled: “Hennessy Capital Acquisition Corp. II Announces Filing of Proxy Statement …” with publication date: July 13, 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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