Blue Bird (NASDAQ:BLBD) Trading Down 5.8% – Here’s What Happened

Blue Bird Co. (NASDAQ:BLBD) shares fell 5.8% during trading on Tuesday . The stock traded as low as $33.41 and last traded at $33.28. 306,465 shares traded hands during trading, a decline of 54% from the average session volume of 665,436 shares. The stock had previously closed at $35.32.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BLBD shares. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC lowered their price target on shares of Blue Bird from $66.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.21.

Blue Bird Stock Down 4.6 %

The firm’s 50-day moving average price is $34.46 and its two-hundred day moving average price is $38.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 1.44. The firm has a market cap of $1.08 billion, a PE ratio of 10.43, a P/E/G ratio of 0.84 and a beta of 1.38.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. As a group, equities research analysts expect that Blue Bird Co. will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Razvan Radulescu sold 2,848 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $38.12, for a total value of $108,565.76. Following the transaction, the chief financial officer now owns 88,664 shares in the company, valued at $3,379,871.68. The trade was a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blue Bird

Hedge funds have recently modified their holdings of the stock. Olstein Capital Management L.P. raised its position in Blue Bird by 3.2% during the 1st quarter. Olstein Capital Management L.P. now owns 65,000 shares of the company’s stock worth $2,104,000 after buying an additional 2,000 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Blue Bird by 21.1% in the first quarter. Wedge Capital Management L L P NC now owns 41,230 shares of the company’s stock valued at $1,335,000 after purchasing an additional 7,180 shares during the period. Rhumbline Advisers boosted its holdings in Blue Bird by 3.7% in the 1st quarter. Rhumbline Advisers now owns 45,002 shares of the company’s stock valued at $1,457,000 after purchasing an additional 1,589 shares in the last quarter. GAMMA Investing LLC increased its position in Blue Bird by 5,165.3% during the 1st quarter. GAMMA Investing LLC now owns 3,949 shares of the company’s stock worth $122,000 after purchasing an additional 3,874 shares during the period. Finally, Insight Wealth Strategies LLC raised its stake in shares of Blue Bird by 36.5% during the 1st quarter. Insight Wealth Strategies LLC now owns 81,379 shares of the company’s stock worth $2,634,000 after buying an additional 21,769 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

Blue Bird Company Profile

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.