Bank of New York Mellon Corp Purchases Shares of 111,649 Blue Bird Corporation $BLBD

Key Points

• Bank of New York Mellon acquired 111,649 Blue Bird shares worth approximately $8.8 million, representing a 0.35% stake. Institutional investors and hedge funds collectively own 93.59% of the company.
• Analysts remain broadly positive on Blue Bird, with one Strong Buy, seven Buy and one Hold rating. The consensus target price is $85.33, above the reported share price of $61.71.
• Blue Bird exceeded quarterly expectations, reporting $1.28 EPS versus the $1.25 consensus and revenue of $517.16 million versus $485.73 million expected.

Bank of New York Mellon Corp acquired a new stake in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 111,649 shares of the company's stock, valued at approximately $8,816,000. Bank of New York Mellon Corp owned 0.35% of Blue Bird as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BLBD. HighTower Advisors LLC boosted its stake in Blue Bird by 24.6% in the fourth quarter. HighTower Advisors LLC now owns 83,508 shares of the company's stock worth $3,925,000 after purchasing an additional 16,501 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in shares of Blue Bird by 279.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 21,540 shares of the company's stock valued at $1,012,000 after buying an additional 15,867 shares in the last quarter. UBS Group AG increased its stake in shares of Blue Bird by 161.7% in the fourth quarter. UBS Group AG now owns 277,796 shares of the company's stock valued at $13,056,000 after buying an additional 171,642 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Blue Bird by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 2,041,085 shares of the company's stock valued at $95,931,000 after buying an additional 135,562 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Blue Bird in the first quarter valued at about $4,504,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Roth Capital set a $93.00 target price on shares of Blue Bird in a research note on Monday, August 10th. Barclays raised their price target on Blue Bird from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Monday, July 20th. Needham & Company LLC reissued a "buy" rating and set a $86.00 price objective on shares of Blue Bird in a report on Thursday, August 6th. DA Davidson raised their target price on shares of Blue Bird from $86.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Freedom Capital upgraded shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $85.33.

Blue Bird Stock Up 1.9%

BLBD stock opened at $61.71 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.67 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.95 billion, a PE ratio of 7.51, a PEG ratio of 0.79 and a beta of 1.36. Blue Bird Corporation has a 1-year low of $46.14 and a 1-year high of $83.39. The business's 50 day simple moving average is $71.38 and its 200 day simple moving average is $66.27.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $485.73 million. As a group, research analysts anticipate that Blue Bird Corporation will post 4.68 EPS for the current year.

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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