Blue Bird (BLBD) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of Blue Bird (NASDAQ:BLBD) from a hold rating to a sell rating in a report published on Saturday.

Other analysts also recently issued reports about the company. Roth Capital set a $24.00 price target on Blue Bird and gave the stock a buy rating in a research report on Thursday, August 9th. BidaskClub upgraded Blue Bird from a hold rating to a buy rating in a research report on Wednesday, July 4th.

Shares of BLBD opened at $18.34 on Friday. The firm has a market capitalization of $493.40 million, a P/E ratio of 14.79 and a beta of 1.12. Blue Bird has a 52-week low of $15.66 and a 52-week high of $26.95.



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

In other Blue Bird 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Hennessy sold 27,887 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $22.84, for a total value of $636,939.08. Following the completion of the sale, the director now owns 5,053 shares in the company, valued at approximately $115,410.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,005,750 shares of company stock valued at $27,976,317. 3.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in BLBD. Osterweis Capital Management Inc. purchased a new stake in Blue Bird in the second quarter worth $58,345,000. BlackRock Inc. increased its stake in Blue Bird by 42.4% in the second quarter. BlackRock Inc. now owns 775,397 shares of the company’s stock worth $17,330,000 after purchasing an additional 230,846 shares during the period. First Trust Advisors LP increased its stake in Blue Bird by 940.7% in the second quarter. First Trust Advisors LP now owns 100,893 shares of the company’s stock worth $2,255,000 after purchasing an additional 91,198 shares during the period. Northern Trust Corp increased its stake in Blue Bird by 63.0% in the first quarter. Northern Trust Corp now owns 130,044 shares of the company’s stock worth $3,082,000 after purchasing an additional 50,248 shares during the period. Finally, Royal Bank of Canada increased its stake in Blue Bird by 16,108.6% in the first quarter. Royal Bank of Canada now owns 48,950 shares of the company’s stock worth $1,160,000 after purchasing an additional 48,648 shares during the period. Institutional investors and hedge funds own 97.17% of the company’s stock.

About Blue Bird

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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