Blue Bird (NASDAQ:BLBD) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a report released on Wednesday.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC lowered their price objective on shares of Blue Bird from $66.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Craig Hallum lifted their price target on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America reduced their price objective on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blue Bird has an average rating of “Moderate Buy” and a consensus price target of $58.21.

Blue Bird Price Performance

Shares of NASDAQ BLBD opened at $33.78 on Wednesday. The company has a fifty day moving average price of $37.85 and a 200 day moving average price of $42.13. The firm has a market cap of $1.08 billion, a PE ratio of 10.46, a PEG ratio of 0.84 and a beta of 1.56. The company has a current ratio of 1.44, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. Blue Bird has a 1-year low of $30.67 and a 1-year high of $59.40.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. Research analysts predict that Blue Bird will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Razvan Radulescu sold 2,848 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.12, for a total value of $108,565.76. Following the sale, the chief financial officer now owns 88,664 shares in the company, valued at approximately $3,379,871.68. This represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Blue Bird

Institutional investors and hedge funds have recently modified their holdings of the stock. Freedom Investment Management Inc. lifted its stake in shares of Blue Bird by 4.9% during the 4th quarter. Freedom Investment Management Inc. now owns 8,461 shares of the company’s stock worth $327,000 after buying an additional 392 shares during the last quarter. Quarry LP raised its holdings in Blue Bird by 55.0% in the 4th quarter. Quarry LP now owns 1,262 shares of the company’s stock valued at $49,000 after acquiring an additional 448 shares during the period. Dunhill Financial LLC lifted its position in Blue Bird by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,000 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Blue Bird during the third quarter worth approximately $26,000. Finally, KBC Group NV grew its position in shares of Blue Bird by 75.3% in the fourth quarter. KBC Group NV now owns 1,420 shares of the company’s stock valued at $55,000 after purchasing an additional 610 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

About Blue Bird

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.