Blue Bird (NASDAQ:BLBD) Downgraded by BidaskClub

BidaskClub downgraded shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Blue Bird from a strong sell rating to a hold rating in a research note on Friday, July 12th. Stifel Nicolaus upgraded Blue Bird from a hold rating to a buy rating and increased their target price for the company from $21.00 to $23.00 in a research note on Monday, May 13th. Finally, ValuEngine downgraded Blue Bird from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $22.50.

BLBD opened at $17.96 on Tuesday. The company has a market cap of $466.51 million, a PE ratio of 11.75 and a beta of 0.98. The stock has a 50-day moving average of $19.49 and a 200-day moving average of $18.60. Blue Bird has a 52-week low of $15.67 and a 52-week high of $26.95.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The company had revenue of $308.77 million for the quarter. Blue Bird had a negative return on equity of 64.11% and a net margin of 2.74%.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Blue Bird by 8.5% in the 4th quarter. BlackRock Inc. now owns 999,398 shares of the company’s stock worth $18,179,000 after buying an additional 78,023 shares in the last quarter. FIL Ltd increased its holdings in Blue Bird by 7.4% during the 1st quarter. FIL Ltd now owns 1,055,494 shares of the company’s stock valued at $17,870,000 after purchasing an additional 73,158 shares in the last quarter. Bank of America Corp DE increased its holdings in Blue Bird by 95.3% during the 4th quarter. Bank of America Corp DE now owns 8,834 shares of the company’s stock valued at $160,000 after purchasing an additional 4,311 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Blue Bird by 35.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 202,300 shares of the company’s stock valued at $3,680,000 after purchasing an additional 52,492 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Blue Bird by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 173,090 shares of the company’s stock valued at $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.

About Blue Bird

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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