Blue Bird Corporation $BLBD Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Blue Bird Corporation (NASDAQ:BLBD) by 35.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 223,849 shares of the company’s stock after selling 124,227 shares during the period. Federated Hermes Inc. owned approximately 0.71% of Blue Bird worth $12,883,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SummerHaven Investment Management LLC acquired a new stake in shares of Blue Bird in the third quarter valued at about $1,072,000. Truist Financial Corp purchased a new position in Blue Bird in the third quarter valued at about $305,000. EFG Asset Management North America Corp. lifted its position in shares of Blue Bird by 26.1% during the 3rd quarter. EFG Asset Management North America Corp. now owns 83,934 shares of the company’s stock valued at $4,830,000 after acquiring an additional 17,372 shares during the period. James Investment Research Inc. acquired a new stake in shares of Blue Bird during the 3rd quarter valued at approximately $216,000. Finally, Trek Financial LLC purchased a new stake in shares of Blue Bird during the 3rd quarter worth approximately $532,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Blue Bird Stock Up 1.4%

Shares of NASDAQ:BLBD opened at $50.31 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.59 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.35 and a beta of 1.43. Blue Bird Corporation has a 52-week low of $30.04 and a 52-week high of $61.95. The stock’s fifty day simple moving average is $50.14 and its 200-day simple moving average is $52.28.

Blue Bird (NASDAQ:BLBD) last announced its earnings results on Monday, November 24th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.35. Blue Bird had a net margin of 8.63% and a return on equity of 62.87%. The firm had revenue of $409.37 million during the quarter, compared to the consensus estimate of $380.37 million. During the same quarter in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities research analysts forecast that Blue Bird Corporation will post 3.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Bank of America raised their price objective on Blue Bird from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Blue Bird in a report on Tuesday, November 25th. Zacks Research downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. DA Davidson increased their price objective on shares of Blue Bird from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, BTIG Research restated a “buy” rating and set a $65.00 target price on shares of Blue Bird in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.60.

Insider Activity at Blue Bird

In related news, CFO Razvan Radulescu sold 7,984 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $50.39, for a total transaction of $402,313.76. Following the sale, the chief financial officer owned 49,087 shares in the company, valued at approximately $2,473,493.93. This trade represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phil Horlock sold 15,381 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $50.42, for a total value of $775,510.02. Following the completion of the transaction, the director owned 225,385 shares of the company’s stock, valued at $11,363,911.70. This trade represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

About Blue Bird

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.