Algert Global LLC Cuts Position in Blue Bird Corporation $BLBD

Key Points

• Algert Global LLC cut its Blue Bird position by 83.4% in the second quarter, selling 235,649 shares and retaining 46,879 shares valued at approximately $3.7 million.
• Blue Bird reported quarterly EPS of $1.28 and revenue of $517.16 million, exceeding analyst expectations of $1.25 EPS and $485.73 million in revenue.
• Despite the stock trading at $59.23, analysts maintain a bullish outlook: Blue Bird has an average “Buy” rating and a consensus price target of $85.33.

Algert Global LLC lessened its position in Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 83.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,879 shares of the company's stock after selling 235,649 shares during the quarter. Algert Global LLC owned 0.15% of Blue Bird worth $3,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Blue Bird in the 2nd quarter worth about $207,493,000. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Blue Bird during the 2nd quarter valued at about $51,129,758. Goldman Sachs Group Inc. lifted its position in Blue Bird by 197.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 712,707 shares of the company's stock worth $33,497,000 after buying an additional 472,990 shares during the last quarter. Marshall Wace LLP lifted its position in Blue Bird by 383.1% in the 3rd quarter. Marshall Wace LLP now owns 425,214 shares of the company's stock worth $24,471,000 after buying an additional 337,196 shares during the last quarter. Finally, Janus Henderson Group PLC boosted 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 worth $62,669,000 after buying an additional 324,710 shares in the last quarter. Institutional investors own 93.59% of the company's stock.

Blue Bird Stock Down 1.1%

NASDAQ BLBD opened at $59.23 on Friday. Blue Bird Corporation has a 1 year low of $46.14 and a 1 year high of $83.39. The stock has a market capitalization of $1.88 billion, a PE ratio of 7.21, a PEG ratio of 0.78 and a beta of 1.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67. The business's 50-day moving average is $72.27 and its 200 day moving average is $66.13.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $485.73 million. Sell-side analysts forecast that Blue Bird Corporation will post 4.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BTIG Research increased their price target on shares of Blue Bird from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Roth Capital set a $93.00 price objective on shares of Blue Bird in a report on Monday, August 10th. Zacks Research raised shares of Blue Bird from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Blue Bird from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Finally, Freedom Capital upgraded shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $85.33.

Blue Bird 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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