Wall Street Zen Downgrades Blue Bird (NASDAQ:BLBD) to Hold

Blue Bird (NASDAQ:BLBD) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also commented on BLBD. DA Davidson boosted their price objective on Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Barclays raised their target price on Blue Bird from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Needham & Company LLC reiterated a “buy” rating and set a $86.00 price target on shares of Blue Bird in a report on Thursday, August 6th. Zacks Research raised Blue Bird from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, BTIG Research raised their price objective on Blue Bird from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Blue Bird currently has an average rating of “Buy” and a consensus price target of $85.33.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $56.53 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67. The firm has a 50-day moving average of $63.37 and a 200-day moving average of $66.64. The company has a market cap of $1.77 billion, a PE ratio of 6.88, a PEG ratio of 0.83 and a beta of 1.37. Blue Bird has a one year low of $46.14 and a one year high of $83.39.

Blue Bird (NASDAQ:BLBD) last posted its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The company had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. As a group, equities research analysts expect that Blue Bird will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Blue Bird news, COO Jeffrey Sanfrey sold 4,000 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $62.40, for a total value of $249,600.00. Following the completion of the sale, the chief operating officer owned 35,011 shares in the company, valued at approximately $2,184,686.40. This trade represents a 10.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Blue Bird

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Triumph Capital Management boosted its position in Blue Bird by 24.7% in the second quarter. Triumph Capital Management now owns 842 shares of the company’s stock worth $66,000 after purchasing an additional 167 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Blue Bird by 85.5% during the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company’s stock valued at $50,000 after purchasing an additional 290 shares during the last quarter. Kilter Group LLC purchased a new stake in shares of Blue Bird during the 2nd quarter valued at $25,000. Quantinno Capital Management LP increased its position in shares of Blue Bird by 7.0% during the 1st quarter. Quantinno Capital Management LP now owns 4,950 shares of the company’s stock valued at $281,000 after purchasing an additional 324 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Blue Bird by 51.2% during the 2nd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $76,000 after purchasing an additional 324 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.

About Blue Bird

Blue Bird Corporation designs and manufactures school buses for use by public school districts, private schools, and other student transportation providers. The company is one of the leading independent school bus manufacturers in North America and offers vehicles intended to transport students safely and efficiently in a range of operating environments.

Blue Bird’s product portfolio includes Type A, Type C, and Type D school buses. Its buses are available with multiple powertrain options, including electric, propane, gasoline, and diesel configurations, allowing customers to select vehicles based on route requirements, infrastructure, emissions goals, and operating preferences.