HighTower Advisors LLC Has $3.93 Million Stock Position in Blue Bird Corporation $BLBD

Key Points

• HighTower Advisors LLC increased its Blue Bird stake by 24.6% in the fourth quarter, ending with 83,508 shares worth about $3.93 million.
• Blue Bird reported better-than-expected quarterly earnings, with EPS of $1.00 versus estimates of $0.88, and revenue of $352.64 million, also ahead of forecasts.
• Analysts remain mostly constructive on the stock: several firms raised price targets, and the consensus rating is now Moderate Buy with a target of $75.80.

HighTower Advisors LLC grew its stake in Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,508 shares of the company's stock after purchasing an additional 16,501 shares during the quarter. HighTower Advisors LLC owned about 0.26% of Blue Bird worth $3,925,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BLBD. Caitong International Asset Management Co. Ltd lifted its stake in shares of Blue Bird by 10,028.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock valued at $41,000 after purchasing an additional 702 shares during the period. Larson Financial Group LLC lifted its stake in shares of Blue Bird by 1,742.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,308 shares of the company's stock valued at $75,000 after purchasing an additional 1,237 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Blue Bird by 30.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,885 shares of the company's stock valued at $93,000 after purchasing an additional 681 shares during the period. LSV Asset Management acquired a new position in shares of Blue Bird in the 3rd quarter valued at $98,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Blue Bird by 184.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,903 shares of the company's stock valued at $110,000 after purchasing an additional 1,233 shares during the period. Institutional investors and hedge funds own 93.59% of the company's stock.

Insider Activity at Blue Bird

In other news, COO Jeffrey Scott Sanfrey sold 5,192 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $58.54, for a total transaction of $303,939.68. Following the completion of the transaction, the chief operating officer directly owned 39,011 shares in the company, valued at $2,283,703.94. This represents a 11.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Blue Bird Price Performance

BLBD stock opened at $67.77 on Friday. The stock has a 50-day moving average price of $63.31 and a two-hundred day moving average price of $56.33. The stock has a market cap of $2.14 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. The company has a current ratio of 1.83, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Blue Bird Corporation has a 1 year low of $37.68 and a 1 year high of $81.51.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. Blue Bird had a return on equity of 53.68% and a net margin of 8.91%.The firm had revenue of $352.64 million during the quarter, compared to analysts' expectations of $335.23 million. During the same quarter in the prior year, the company earned $0.96 EPS. The company's revenue was down 1.7% on a year-over-year basis. Equities analysts forecast that Blue Bird Corporation will post 4.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Freedom Capital downgraded Blue Bird from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Barclays upped their price objective on shares of Blue Bird from $55.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. BTIG Research upped their price objective 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. Wall Street Zen cut shares of Blue Bird from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 7th. Finally, Needham & Company LLC upped their price objective on shares of Blue Bird from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.80.

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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