Blue Bird Corporation $BLBD Shares Sold by Prospect Capital Advisors LLC

Key Points

• Prospect Capital Advisors reduced its Blue Bird stake by 13.7% in the first quarter, selling 15,290 shares and retaining 96,640 shares worth approximately $5.5 million. Institutional investors collectively own 93.59% of BLBD.
• Analyst sentiment remains favorable, with seven Buy ratings and two Holds, resulting in a “Moderate Buy” consensus and an average price target of $82.17. Recent targets include $85 from Barclays, $86 from Needham, and $94 from Roth Capital.
• Blue Bird exceeded quarterly earnings and revenue expectations, reporting $1.00 EPS versus $0.88 expected and $352.63 million in revenue versus $335.23 million forecast, although revenue declined 1.7% year over year.

Prospect Capital Advisors LLC decreased its holdings in Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,640 shares of the company's stock after selling 15,290 shares during the quarter. Blue Bird accounts for approximately 3.0% of Prospect Capital Advisors LLC's holdings, making the stock its 14th largest position. Prospect Capital Advisors LLC owned approximately 0.31% of Blue Bird worth $5,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BLBD. Segall Bryant & Hamill LLC bought a new stake in shares of Blue Bird during the first quarter valued at about $2,439,000. Bank of America Corp DE grew its position in Blue Bird by 3.8% in the 1st quarter. Bank of America Corp DE now owns 529,345 shares of the company's stock valued at $30,062,000 after buying an additional 19,576 shares in the last quarter. Janus Henderson Group PLC grew its position in Blue Bird by 41.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,102,335 shares of the company's stock valued at $62,669,000 after buying an additional 324,710 shares in the last quarter. California State Teachers Retirement System increased its stake in Blue Bird by 26.4% during the 1st quarter. California State Teachers Retirement System now owns 38,120 shares of the company's stock valued at $2,165,000 after buying an additional 7,961 shares during the period. Finally, Empowered Funds LLC increased 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 buying an additional 14,290 shares during the period. 93.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BLBD. Barclays upped their price target on shares of Blue Bird from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Freedom Capital lowered shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Roth Capital started coverage on Blue Bird in a report on Thursday, June 25th. They set a "buy" rating and a $94.00 target price on the stock. Wall Street Zen downgraded Blue Bird from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Needham & Company LLC increased their price target on Blue Bird from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $82.17.

Blue Bird Price Performance

NASDAQ:BLBD opened at $74.39 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.83 and a debt-to-equity ratio of 0.28. The business's 50-day moving average price is $74.73 and its 200 day moving average price is $64.12. Blue Bird Corporation has a 52-week low of $42.95 and a 52-week high of $83.39. The firm has a market cap of $2.35 billion, a P/E ratio of 18.28, a PEG ratio of 1.01 and a beta of 1.35.

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