Blue Bird (BLBD) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Blue Bird (NASDAQ:BLBD) from a sell rating to a hold rating in a research report report published on Friday morning.

Several other analysts also recently issued reports on BLBD. BidaskClub downgraded Blue Bird from a hold rating to a sell rating in a report on Wednesday, October 24th. Roth Capital set a $24.00 price target on Blue Bird and gave the company a buy rating in a report on Thursday, August 9th.

Shares of BLBD opened at $19.03 on Friday. Blue Bird has a twelve month low of $15.66 and a twelve month high of $26.95. The firm has a market capitalization of $514.49 million, a P/E ratio of 15.35 and a beta of 1.47.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.26. Blue Bird had a negative return on equity of 45.73% and a net margin of 3.02%. The firm had revenue of $314.19 million during the quarter, compared to the consensus estimate of $320.90 million. As a group, analysts predict that Blue Bird will post 1.55 earnings per share for the current fiscal year.

In related news, major shareholder Asp Bb Holdings Llc sold 969,850 shares of the stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $28.00, for a total value of $27,155,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Hennessy sold 8,013 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $22.91, for a total value of $183,577.83. Following the completion of the sale, the director now owns 50,178 shares of the company’s stock, valued at $1,149,577.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,005,750 shares of company stock valued at $27,976,317. 3.40% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of Blue Bird by 490.3% during the first quarter. Barclays PLC now owns 8,731 shares of the company’s stock valued at $207,000 after acquiring an additional 7,252 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Blue Bird by 37.9% in the first quarter. The Manufacturers Life Insurance Company now owns 8,952 shares of the company’s stock worth $213,000 after purchasing an additional 2,462 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Blue Bird by 447.8% in the third quarter. Meeder Asset Management Inc. now owns 9,394 shares of the company’s stock worth $230,000 after purchasing an additional 7,679 shares in the last quarter. Rhumbline Advisers acquired a new position in Blue Bird in the second quarter worth about $297,000. Finally, Wills Financial Group Inc. acquired a new position in Blue Bird in the second quarter worth about $354,000. Institutional investors own 97.36% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and aftermarket parts in the United States, Canada, and internationally. The company operates through two segments, Buses and Aftermarket Parts. It offers Type C, Type D, and specialty buses, as well as Sigma, a bus for public transportation.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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