ValuEngine Downgrades Blue Bird (NASDAQ:BLBD) to Strong Sell

Blue Bird (NASDAQ:BLBD) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, ValuEngine reports.

Several other equities analysts have also recently commented on BLBD. BidaskClub cut shares of Blue Bird from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus upgraded shares of Blue Bird from a “hold” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $23.00 in a report on Monday, May 13th. Finally, Zacks Investment Research upgraded shares of Blue Bird from a “strong sell” rating to a “hold” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $22.50.

Shares of Blue Bird stock traded down $0.06 on Tuesday, hitting $17.62. 51,295 shares of the company traded hands, compared to its average volume of 75,821. The stock’s 50-day moving average is $19.55. Blue Bird has a 12-month low of $15.67 and a 12-month high of $26.95. The company has a market cap of $466.51 million, a P/E ratio of 10.36 and a beta of 0.98.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). Blue Bird had a net margin of 2.74% and a negative return on equity of 63.17%. The company had revenue of $308.77 million for the quarter.

Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Blue Bird by 8.5% in the fourth quarter. BlackRock Inc. now owns 999,398 shares of the company’s stock worth $18,179,000 after purchasing an additional 78,023 shares in the last quarter. FIL Ltd boosted its holdings in Blue Bird by 7.4% in the first quarter. FIL Ltd now owns 1,055,494 shares of the company’s stock worth $17,870,000 after purchasing an additional 73,158 shares in the last quarter. Bank of America Corp DE boosted its holdings in Blue Bird by 95.3% in the fourth quarter. Bank of America Corp DE now owns 8,834 shares of the company’s stock worth $160,000 after purchasing an additional 4,311 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Blue Bird by 35.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 202,300 shares of the company’s stock worth $3,680,000 after purchasing an additional 52,492 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Blue Bird by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 173,090 shares of the company’s stock worth $3,148,000 after purchasing an additional 7,095 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments, Bus and Parts. The company offers Type C, Type D, and specialty buses; and alternative fuel applications through its propane-powered, gasoline-powered, compressed natural gas-powered, and electric powered school buses.

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