StockNews.com Downgrades Blue Bird (NASDAQ:BLBD) to Hold

StockNews.com downgraded shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a research note released on Tuesday.

Other research analysts have also issued research reports about the stock. Bank of America lifted their price target on shares of Blue Bird from $60.00 to $66.00 and gave the company a buy rating in a research note on Thursday, August 8th. DA Davidson upped their target price on shares of Blue Bird from $66.00 to $67.00 and gave the stock a buy rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a buy rating and set a $72.00 target price on shares of Blue Bird in a report on Tuesday, September 10th. Finally, Barclays boosted their price target on Blue Bird from $43.00 to $54.00 and gave the company an overweight rating in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Blue Bird has an average rating of Moderate Buy and an average target price of $61.17.

Blue Bird Stock Performance

Blue Bird stock opened at $48.45 on Tuesday. Blue Bird has a 1 year low of $17.59 and a 1 year high of $59.40. The company has a market cap of $1.56 billion, a PE ratio of 19.62, a PEG ratio of 0.28 and a beta of 1.61. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average is $49.53 and its two-hundred day moving average is $46.54.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. The business had revenue of $333.37 million for the quarter, compared to the consensus estimate of $330.00 million. During the same period last year, the company posted $0.42 EPS. Equities analysts anticipate that Blue Bird will post 3.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $48.00, for a total value of $120,384.00. Following the completion of the transaction, the president now owns 83,125 shares in the company, valued at approximately $3,990,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $48.00, for a total transaction of $120,384.00. Following the sale, the president now owns 83,125 shares in the company, valued at approximately $3,990,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Razvan Radulescu sold 5,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $47.08, for a total transaction of $235,400.00. Following the completion of the transaction, the chief financial officer now directly owns 88,926 shares of the company’s stock, valued at $4,186,636.08. The disclosure for this sale can be found here. Insiders have sold 61,240 shares of company stock valued at $2,960,546 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BLBD. Victory Capital Management Inc. bought a new position in Blue Bird during the fourth quarter worth about $89,000. Swiss National Bank boosted its stake in shares of Blue Bird by 4.8% during the 4th quarter. Swiss National Bank now owns 47,600 shares of the company’s stock worth $1,283,000 after acquiring an additional 2,200 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Blue Bird by 18.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 207,594 shares of the company’s stock worth $5,597,000 after acquiring an additional 32,334 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Blue Bird in the 4th quarter valued at $646,000. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Blue Bird by 303.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 38,787 shares of the company’s stock valued at $1,046,000 after purchasing an additional 29,170 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.