Empowered Funds LLC Buys 14,290 Shares of Blue Bird Corporation $BLBD

Key Points

• Empowered Funds LLC increased its Blue Bird stake by 3.6% in the first quarter, purchasing 14,290 shares and bringing its holdings to 408,714 shares worth approximately $23.2 million. Institutional investors collectively own 93.59% of the company.
• Blue Bird reported quarterly EPS of $1.00, beating estimates of $0.88, while revenue reached $352.63 million versus the $335.23 million consensus estimate. Revenue nevertheless declined 1.7% year over year.
• Analyst sentiment remains positive, with seven Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $82.17, compared with the stock’s reported price of $73.89.

Empowered Funds LLC boosted its stake in Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 408,714 shares of the company's stock after purchasing an additional 14,290 shares during the quarter. Empowered Funds LLC owned about 1.29% of Blue Bird worth $23,211,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BLBD. Quantinno Capital Management LP lifted its holdings in shares of Blue Bird by 7.0% during the 1st quarter. Quantinno Capital Management LP now owns 4,950 shares of the company's stock worth $281,000 after acquiring an additional 324 shares during the period. ProShare Advisors LLC lifted its stake in Blue Bird by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 5,793 shares of the company's stock worth $272,000 after purchasing an additional 372 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Blue Bird by 8.7% in the 4th quarter. Brooklyn Investment Group now owns 5,208 shares of the company's stock valued at $261,000 after purchasing an additional 417 shares during the last quarter. R Squared Ltd raised its holdings in shares of Blue Bird by 11.0% during the 4th quarter. R Squared Ltd now owns 4,464 shares of the company's stock worth $210,000 after buying an additional 443 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Blue Bird by 210.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company's stock valued at $36,000 after buying an additional 525 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

Blue Bird Price Performance

Shares of NASDAQ:BLBD opened at $73.89 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.83. 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 $2.34 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.03 and a beta of 1.35. The firm's fifty day moving average is $74.23 and its 200-day moving average is $63.69.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Freedom Capital cut shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 7th. BTIG Research raised their target price on shares of Blue Bird from $65.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Roth Capital began coverage on shares of Blue Bird in a report on Thursday, June 25th. They set a "buy" rating and a $94.00 price target for the company. Zacks Research raised Blue Bird from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded Blue Bird from a "buy" rating to a "hold" rating in a research report on Saturday. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.17.

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.

Want to see what other hedge funds are holding BLBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blue Bird Corporation (NASDAQ:BLBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.