Wedge Capital Management L L P NC Sells 9,931 Shares of Blue Bird Corporation $BLBD

Wedge Capital Management L L P NC decreased its holdings in shares of Blue Bird Corporation (NASDAQ:BLBD) by 18.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,162 shares of the company’s stock after selling 9,931 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Blue Bird were worth $3,487,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BLBD. Goldman Sachs Group Inc. raised its position in shares of Blue Bird by 197.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 712,707 shares of the company’s stock valued at $33,497,000 after purchasing an additional 472,990 shares during the period. Marshall Wace LLP grew its stake in Blue Bird by 383.1% in the 3rd quarter. Marshall Wace LLP now owns 425,214 shares of the company’s stock valued at $24,471,000 after buying an additional 337,196 shares during the last quarter. Janus Henderson Group PLC grew its stake in Blue Bird by 41.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,102,335 shares of the company’s stock valued at $62,669,000 after buying an additional 324,710 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Blue Bird by 362.2% in the 1st quarter. Lazard Asset Management LLC now owns 304,196 shares of the company’s stock valued at $17,275,000 after acquiring an additional 238,379 shares during the period. Finally, UBS Group AG raised its holdings in Blue Bird by 161.7% in the 4th quarter. UBS Group AG now owns 277,796 shares of the company’s stock valued at $13,056,000 after acquiring an additional 171,642 shares during the period. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Blue Bird Price Performance

NASDAQ:BLBD opened at $64.67 on Friday. Blue Bird Corporation has a 52 week low of $46.14 and a 52 week high of $83.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.67 and a current ratio of 1.64. The firm’s 50-day simple moving average is $74.61 and its 200 day simple moving average is $65.51. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 0.84 and a beta of 1.36.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The firm had revenue of $517.16 million during the quarter, compared to the consensus estimate of $485.73 million. As a group, sell-side analysts predict that Blue Bird Corporation will post 4.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut Blue Bird from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Barclays increased their target price on Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. BTIG Research lifted their price target on Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC restated a “buy” rating and issued a $86.00 price target on shares of Blue Bird in a research note on Thursday, August 6th. Finally, Zacks Research raised Blue Bird from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blue Bird presently has an average rating of “Buy” and a consensus target price of $85.33.

Blue Bird 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.