First Trust Advisors LP Decreases Stake in Blue Bird Corporation $BLBD

Key Points

• First Trust Advisors LP cut its Blue Bird stake by 85.3% in the first quarter, selling 738,204 shares and retaining 126,932 shares worth approximately $7.2 million. Institutional investors collectively own 93.59% of BLBD.
• Blue Bird exceeded quarterly expectations, reporting EPS of $1.00 versus the $0.88 consensus and revenue of $352.63 million, though revenue declined 1.7% year over year.
• Analyst sentiment remains favorable, with seven Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $82.17.

First Trust Advisors LP lessened its holdings in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 85.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,932 shares of the company's stock after selling 738,204 shares during the quarter. First Trust Advisors LP owned 0.40% of Blue Bird worth $7,208,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BLBD. Caitong International Asset Management Co. Ltd grew its stake in Blue Bird by 10,028.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock worth $41,000 after buying an additional 702 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Blue Bird by 210.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company's stock valued at $36,000 after acquiring an additional 525 shares during the period. Transamerica Financial Advisors LLC raised its stake in shares of Blue Bird by 222.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 823 shares of the company's stock valued at $39,000 after acquiring an additional 568 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Blue Bird during the 4th quarter valued at $41,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Blue Bird by 1,742.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,308 shares of the company's stock valued at $75,000 after acquiring an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 93.59% of the company's stock.

Blue Bird Price Performance

BLBD stock opened at $74.39 on Friday. The stock's 50 day moving average is $74.73 and its two-hundred day moving average is $64.12. Blue Bird Corporation has a 52-week low of $42.95 and a 52-week high of $83.39. The company has a market capitalization of $2.35 billion, a PE ratio of 18.28, a P/E/G ratio of 1.01 and a beta of 1.35. The company has a quick ratio of 1.27, a current ratio of 1.83 and a debt-to-equity ratio of 0.28.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.00 EPS for the quarter, beating 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 company had revenue of $352.63 million during the quarter, compared to analysts' expectations of $335.23 million. During the same period in the prior year, the business posted $0.96 EPS. The business's revenue was down 1.7% on a year-over-year basis. Analysts predict that Blue Bird Corporation will post 4.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BLBD. Zacks Research upgraded Blue Bird from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Wall Street Zen cut Blue Bird from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Roth Capital began coverage on Blue Bird in a research report on Thursday, June 25th. They issued a "buy" rating and a $94.00 target price for the company. DA Davidson set a $86.00 target price on Blue Bird in a research note on Tuesday, June 9th. Finally, BTIG Research raised their target price on Blue Bird from $65.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $82.17.

Blue Bird 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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