Public Employees Retirement System of Ohio Invests $3.08 Million in Blue Bird Corporation $BLBD

Key Points

• Public Employees Retirement System of Ohio purchased 38,972 Blue Bird shares valued at approximately $3.08 million, representing about 0.12% of the company. Institutional investors and hedge funds collectively own 93.59% of BLBD.
• Analysts remain broadly positive, with an average “Buy” rating and an $85.33 price target. Recent targets range from $85 to $95, while one analyst downgraded the stock to “Hold.”
• Blue Bird exceeded quarterly expectations, reporting $1.28 in earnings per share versus a $1.25 estimate and revenue of $517.16 million against a $485.73 million consensus forecast.

Public Employees Retirement System of Ohio purchased a new position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,972 shares of the company's stock, valued at approximately $3,077,000. Public Employees Retirement System of Ohio owned about 0.12% of Blue Bird as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Blue Bird by 85.5% during the second quarter. GAMMA Investing LLC now owns 629 shares of the company's stock worth $50,000 after purchasing an additional 290 shares during the period. Kilter Group LLC acquired a new stake in shares of Blue Bird in the second quarter valued at approximately $25,000. Quantinno Capital Management LP increased its stake in 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 raised its stake in Blue Bird by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 5,793 shares of the company's stock valued at $272,000 after purchasing an additional 372 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Blue Bird by 8.7% during the 4th quarter. Brooklyn Investment Group now owns 5,208 shares of the company's stock worth $261,000 after acquiring an additional 417 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLBD. Barclays raised their target price on shares of Blue Bird from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Needham & Company LLC reiterated a "buy" rating and issued a $86.00 target price on shares of Blue Bird in a report on Thursday, August 6th. Freedom Capital upgraded shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of Blue Bird from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, BTIG Research lifted their price objective on Blue Bird from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Blue Bird has an average rating of "Buy" and an average price target of $85.33.

Blue Bird Price Performance

Shares of NASDAQ BLBD opened at $63.63 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.67 and a current ratio of 1.64. The firm's 50-day simple moving average is $70.77 and its 200 day simple moving average is $66.29. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.83 and a beta of 1.36. Blue Bird Corporation has a fifty-two week low of $46.14 and a fifty-two week high of $83.39.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. The firm had revenue of $517.16 million during the quarter, compared to the consensus estimate of $485.73 million. Blue Bird had a return on equity of 39.97% and a net margin of 17.48%. As a group, research analysts anticipate that Blue Bird Corporation will post 4.68 earnings per share for the current fiscal year.

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.

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