Hsbc Holdings PLC Acquires Shares of 80,463 Blue Bird Corporation $BLBD

Key Points

• HSBC Holdings PLC initiated a new position in Blue Bird, buying 80,463 shares worth about $4.5 million in the first quarter, or roughly 0.25% of the company.
• Other institutional investors also increased or started stakes in Blue Bird, and institutional ownership now stands at 93.59% of the stock.
• Analyst sentiment is generally positive: Blue Bird has a Moderate Buy consensus with an average price target of $82.17, while shares recently traded around $76.20 after falling 1.7%.

Hsbc Holdings PLC purchased a new position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 80,463 shares of the company's stock, valued at approximately $4,504,000. Hsbc Holdings PLC owned approximately 0.25% of Blue Bird at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hodges Capital Management Inc. increased its position in shares of Blue Bird by 9.8% in the 1st quarter. Hodges Capital Management Inc. now owns 52,825 shares of the company's stock worth $3,000,000 after purchasing an additional 4,700 shares during the last quarter. Hudson Edge Investment Partners Inc. bought a new position in shares of Blue Bird during the first quarter worth about $833,000. New York State Teachers Retirement System bought a new position in shares of Blue Bird during the first quarter worth about $166,000. Y Intercept Hong Kong Ltd grew its stake in Blue Bird by 11.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 31,107 shares of the company's stock worth $1,767,000 after purchasing an additional 3,305 shares in the last quarter. Finally, James Investment Research Inc. acquired a new position in Blue Bird in the first quarter worth about $217,000. Institutional investors own 93.59% of the company's stock.

Analyst Ratings Changes

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

Blue Bird Stock Down 1.7%

Blue Bird stock opened at $76.20 on Friday. Blue Bird Corporation has a 52 week low of $42.95 and a 52 week high of $83.39. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.05 and a beta of 1.35. The company's 50-day moving average price is $73.98 and its two-hundred day moving average price is $63.20. 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 (NASDAQ:BLBD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. The company had revenue of $352.63 million for the quarter, compared to the consensus estimate of $335.23 million. Blue Bird had a return on equity of 53.68% and a net margin of 8.91%.The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. On average, analysts expect that Blue Bird Corporation will post 4.5 EPS 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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