Blue Bird Corporation $BLBD Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Blue Bird stake by 3.8% in the first quarter, adding 19,576 shares to hold 529,345 shares valued at approximately $30.1 million. Institutional investors collectively own 93.59% of BLBD.
• Analyst sentiment remains positive, with Blue Bird receiving an average “Buy” rating and an average price target of $85.33; several firms recently raised their targets to between $85 and $95.
• Blue Bird reported quarterly adjusted earnings of $1.28 per share and revenue of $517.16 million, exceeding consensus estimates of $1.25 per share and $485.73 million, respectively.

Bank of America Corp DE lifted its stake in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529,345 shares of the company's stock after purchasing an additional 19,576 shares during the quarter. Bank of America Corp DE owned about 1.67% of Blue Bird worth $30,062,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BLBD. Janus Henderson Group PLC lifted its stake in shares of Blue Bird by 41.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,102,335 shares of the company's stock worth $62,669,000 after acquiring an additional 324,710 shares during the period. California State Teachers Retirement System lifted its position in Blue Bird by 26.4% in the first quarter. California State Teachers Retirement System now owns 38,120 shares of the company's stock worth $2,165,000 after purchasing an additional 7,961 shares during the period. Empowered Funds LLC boosted its stake in Blue Bird by 3.6% during the 1st quarter. Empowered Funds LLC now owns 408,714 shares of the company's stock valued at $23,211,000 after purchasing an additional 14,290 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Blue Bird by 7.0% during the 1st quarter. Quantinno Capital Management LP now owns 4,950 shares of the company's stock valued at $281,000 after purchasing an additional 324 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Blue Bird by 362.2% during the 1st quarter. Lazard Asset Management LLC now owns 304,196 shares of the company's stock valued at $17,275,000 after purchasing an additional 238,379 shares during the period. Institutional investors and hedge funds own 93.59% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays upped their price objective on Blue Bird from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Monday, July 20th. Wall Street Zen cut shares of Blue Bird from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. BTIG Research boosted their price target on shares of Blue Bird from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Roth Capital set a $93.00 price target on shares of Blue Bird in a report on Monday, August 10th. Finally, DA Davidson raised their price objective on shares of Blue Bird from $86.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. 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. Based on data from MarketBeat.com, Blue Bird currently has an average rating of "Buy" and an average target price of $85.33.

Blue Bird Stock Up 0.2%

Shares of Blue Bird stock opened at $64.81 on Friday. The stock's fifty day moving average is $74.52 and its 200-day moving average is $65.50. The firm has a market capitalization of $2.05 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 0.84 and a beta of 1.36. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. Blue Bird Corporation has a 12-month low of $46.14 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $1.25 by $0.03. The business had revenue of $517.16 million during the quarter, compared to the consensus estimate of $485.73 million. Blue Bird had a return on equity of 39.97% and a net margin of 17.48%. Equities analysts anticipate that Blue Bird Corporation will post 4.68 earnings per share for the current year.

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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