Blue Bird (NASDAQ:BLBD) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Blue Bird from “Buy” to “Hold,” though the broader analyst consensus remains “Buy” with a $85.33 target price.
• Blue Bird reported quarterly EPS of $1.28 and revenue of $517.16 million, exceeding analyst estimates of $1.25 EPS and $485.73 million in revenue.
• The stock opened at $56.53, while institutional investors own 93.59% of shares; COO Jeffrey Sanfrey recently sold 4,000 shares for approximately $249,600.

Blue Bird (NASDAQ:BLBD - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. BTIG Research raised their target price on Blue Bird from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Roth Capital set a $93.00 price target on Blue Bird in a report on Monday, August 10th. Needham & Company LLC reissued a "buy" rating and issued a $86.00 price objective on shares of Blue Bird in a research report on Thursday, August 6th. Barclays raised their price objective on shares of Blue Bird from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Finally, Zacks Research raised shares of Blue Bird from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Blue Bird currently has a consensus rating of "Buy" and a consensus target price of $85.33.

Blue Bird Stock Up 1.7%

BLBD stock opened at $56.53 on Friday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a 50-day moving average of $63.37 and a two-hundred day moving average of $66.55. Blue Bird has a 52-week low of $46.14 and a 52-week high of $83.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67.

Blue Bird (NASDAQ:BLBD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.03. Blue Bird had a return on equity of 39.97% and a net margin of 17.48%.The business had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. As a group, equities research analysts anticipate that Blue Bird will post 4.68 EPS for the current year.

Insider Buying and Selling at Blue Bird

In related news, COO Jeffrey Sanfrey sold 4,000 shares of Blue Bird stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total transaction of $249,600.00. Following the sale, the chief operating officer directly owned 35,011 shares of the company's stock, valued at $2,184,686.40. This trade represents a 10.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

Institutional Trading of Blue Bird

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Blue Bird during the second quarter valued at approximately $207,493,000. Jupiter Topco LLC bought a new position in Blue Bird in the second quarter worth $94,222,000. Janus Henderson Group PLC lifted its position in Blue Bird by 41.8% in the first quarter. Janus Henderson Group PLC now owns 1,102,335 shares of the company's stock worth $62,669,000 after purchasing an additional 324,710 shares during the period. Bank of America Corp DE acquired a new stake in Blue Bird during the second quarter worth $63,565,000. Finally, Dimensional Fund Advisors LP boosted its stake in Blue Bird by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 688,931 shares of the company's stock worth $39,118,000 after buying an additional 48,174 shares in the last quarter. Institutional investors own 93.59% of the company's stock.

Blue Bird Company Profile

Blue Bird Corporation designs and manufactures school buses for use by public school districts, private schools, and other student transportation providers. The company is one of the leading independent school bus manufacturers in North America and offers vehicles intended to transport students safely and efficiently in a range of operating environments.

Blue Bird's product portfolio includes Type A, Type C, and Type D school buses. Its buses are available with multiple powertrain options, including electric, propane, gasoline, and diesel configurations, allowing customers to select vehicles based on route requirements, infrastructure, emissions goals, and operating preferences.

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