BlackRock Inc. Makes New $207.49 Million Investment in Blue Bird Corporation $BLBD

Key Points

• BlackRock acquired 2.63 million shares of Blue Bird, valued at approximately $207.5 million, giving it an 8.3% stake. Institutional investors and hedge funds collectively own 93.59% of the company.
• Analysts maintain a positive outlook, with Blue Bird receiving a consensus “Buy” rating and an average price target of $85.33.
• Blue Bird exceeded quarterly expectations, reporting $1.28 in EPS versus a $1.25 estimate and revenue of $517.16 million versus $485.73 million expected.

BlackRock Inc. acquired a new stake in Blue Bird Corporation (NASDAQ:BLBD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,627,824 shares of the company's stock, valued at approximately $207,493,000. BlackRock Inc. owned about 8.30% of Blue Bird at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dunhill Financial LLC purchased a new position in Blue Bird in the second quarter valued at about $39,000. Panoramic Capital Partners LLC purchased a new stake in Blue Bird during the 2nd quarter worth approximately $237,000. Deutsche Bank AG purchased a new stake in Blue Bird during the 2nd quarter worth approximately $10,998,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Blue Bird in the 2nd quarter valued at approximately $372,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Blue Bird during the second quarter worth approximately $57,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Roth Capital set a $93.00 price objective on shares of Blue Bird in a report on Monday, August 10th. Zacks Research upgraded Blue Bird from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 7th. Barclays increased their target price on Blue Bird from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. Wall Street Zen upgraded Blue Bird from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $86.00 price target on shares of Blue Bird in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Blue Bird presently has a consensus rating of "Buy" and an average target price of $85.33.

Blue Bird Stock Performance

BLBD opened at $59.90 on Friday. The business's 50 day moving average is $72.57 and its 200-day moving average is $66.18. 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 stock has a market cap of $1.90 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 0.79 and a beta of 1.36. Blue Bird Corporation has a twelve month low of $46.14 and a twelve month high of $83.39.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $517.16 million during the quarter, compared to analysts' expectations of $485.73 million. On average, analysts predict that Blue Bird Corporation will post 4.68 earnings per share 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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