Blue Bird (NASDAQ:BLBD) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded Blue Bird from “strong sell” to “hold”, adding to a generally positive analyst backdrop for the stock.
• Other firms remain upbeat: 7 analysts rate Blue Bird a Buy and 2 rate it Hold, with a Moderate Buy consensus and an average price target of $80.50.
• Blue Bird recently reported better-than-expected quarterly results, posting EPS of $1.00 versus the $0.88 estimate and revenue of $352.63 million versus expectations of $335.23 million.

Blue Bird (NASDAQ:BLBD - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

BLBD has been the topic of a number of other research reports. BTIG Research upped their price objective on Blue Bird from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Roth Capital began coverage on Blue Bird in a research report on Thursday, June 25th. They set a "buy" rating and a $94.00 price target on the stock. Freedom Capital lowered Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 7th. DA Davidson set a $86.00 price target on Blue Bird in a report on Tuesday, June 9th. Finally, Needham & Company LLC increased their target price on shares of Blue Bird from $78.00 to $86.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $80.50.

Blue Bird Trading Down 1.9%

Shares of NASDAQ:BLBD opened at $78.07 on Tuesday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.08 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.83 and a quick ratio of 1.27. Blue Bird has a 1 year low of $42.00 and a 1 year high of $81.51. The business's 50-day moving average is $71.48 and its 200 day moving average is $60.89.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.12. Blue Bird had a return on equity of 53.68% and a net margin of 8.91%.The business had revenue of $352.63 million during the quarter, compared to analysts' expectations of $335.23 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The company's revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts predict that Blue Bird will post 4.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Blue Bird by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company's stock valued at $618,000 after purchasing an additional 820 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Blue Bird by 30.9% in the first quarter. NewEdge Advisors LLC now owns 2,885 shares of the company's stock valued at $93,000 after buying an additional 681 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Blue Bird by 2,090.5% during the first quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company's stock valued at $112,000 after purchasing an additional 3,303 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Blue Bird by 12.5% in the 2nd quarter. New York State Common Retirement Fund now owns 12,676 shares of the company's stock worth $547,000 after purchasing an additional 1,412 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Blue Bird during the second quarter valued at $3,799,000. Institutional investors own 93.59% of the company's stock.

Blue Bird Company Profile

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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