Blue Bird (NASDAQ:BLBD) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Blue Bird (NASDAQ:BLBD) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on BLBD. Freedom Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Roth Capital initiated coverage on shares of Blue Bird in a report on Thursday, June 25th. They set a “buy” rating and a $94.00 price objective for the company. Needham & Company LLC boosted their target price on shares of Blue Bird from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. BTIG Research lifted their price target on Blue Bird from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, DA Davidson set a $86.00 price objective on Blue Bird in a report on Tuesday, June 9th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Blue Bird Stock Performance

Shares of Blue Bird stock opened at $78.07 on Tuesday. The business has a 50-day simple moving average of $71.48 and a 200 day simple moving average of $60.89. Blue Bird has a one year low of $42.00 and a one year high of $81.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.83 and a quick ratio of 1.27. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.08 and a beta of 1.35.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.12. Blue Bird had a return on equity of 53.68% and a net margin of 8.91%.The business had revenue of $352.63 million for the quarter, compared to analyst estimates of $335.23 million. During the same quarter in the prior year, the company earned $0.96 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, research analysts anticipate that Blue Bird will post 4.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BLBD. GAMMA Investing LLC boosted its stake in shares of Blue Bird by 85.5% in the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company’s stock worth $50,000 after buying an additional 290 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Blue Bird by 10,028.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $41,000 after acquiring an additional 702 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Blue Bird by 210.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company’s stock valued at $36,000 after acquiring an additional 525 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in Blue Bird by 222.7% during the fourth quarter. Transamerica Financial Advisors LLC now owns 823 shares of the company’s stock worth $39,000 after acquiring an additional 568 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in Blue Bird during the fourth quarter worth $41,000. 93.59% of the stock is owned by institutional investors.

Blue Bird Company Profile

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.