Wall Street Zen Downgrades Blue Bird (NASDAQ:BLBD) to Hold

Key Points

• Wall Street Zen downgraded Blue Bird to “Hold” from “Buy,” although the broader analyst consensus remains “Buy” with a $85.33 average price target.
• Blue Bird exceeded quarterly expectations, reporting $1.28 in EPS versus the $1.25 estimate and revenue of $517.16 million against a $485.73 million forecast.
• Institutional ownership is substantial at 93.59%, with major investors including California State Teachers Retirement System, BlackRock, Vanguard, and Janus Henderson increasing or initiating positions.

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

Several other research firms also recently issued reports on BLBD. Freedom Capital upgraded Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Barclays raised their target price on shares of Blue Bird from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. BTIG Research boosted their price target on shares of Blue Bird from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Needham & Company LLC restated a "buy" rating and issued a $86.00 price target on shares of Blue Bird in a research report on Thursday, August 6th. Finally, Roth Capital set a $93.00 price target on shares of Blue Bird in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $85.33.

Blue Bird Stock Performance

Shares of NASDAQ BLBD opened at $63.63 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.83 and a beta of 1.36. The stock's fifty day simple moving average is $70.77 and its 200 day simple moving average is $66.29. Blue Bird has a 52-week low of $46.14 and a 52-week high of $83.39.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (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 company had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. As a group, sell-side analysts forecast that Blue Bird will post 4.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blue Bird

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in shares of Blue Bird by 7,078.5% in the second quarter. California State Teachers Retirement System now owns 2,736,438 shares of the company's stock worth $216,069,000 after acquiring an additional 2,698,318 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Blue Bird during the second quarter worth $207,493,000. Vanguard Group Inc. boosted its position in Blue Bird by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,041,085 shares of the company's stock valued at $95,931,000 after purchasing an additional 135,562 shares during the last quarter. Jupiter Topco LLC acquired a new stake in Blue Bird during the second quarter valued at $94,222,000. Finally, Janus Henderson Group PLC grew its stake 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 valued at $62,669,000 after purchasing an additional 324,710 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

About Blue Bird

Blue Bird Corporation NASDAQ: BLBD is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company's core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.

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