Blue Bird (NASDAQ:BLBD) Rating Lowered to Hold at BidaskClub

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Blue Bird (NASDAQ:BLBD) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus upgraded Blue Bird from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $23.00 in a research report on Monday, May 13th. Zacks Investment Research upgraded Blue Bird from a “strong sell” rating to a “hold” rating in a research report on Friday, July 12th. Finally, ValuEngine cut Blue Bird from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.50.

Blue Bird stock opened at $17.48 on Tuesday. The stock has a market capitalization of $468.09 million, a PE ratio of 10.28 and a beta of 0.98. Blue Bird has a one year low of $15.67 and a one year high of $26.95. The firm’s fifty day moving average price is $19.51.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The firm had revenue of $308.77 million for the quarter. Blue Bird had a net margin of 2.74% and a negative return on equity of 63.17%.

A number of large investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its holdings in Blue Bird by 2.1% during the second quarter. William Blair Investment Management LLC now owns 1,329,388 shares of the company’s stock valued at $26,176,000 after purchasing an additional 27,364 shares during the period. BlackRock Inc. grew its holdings in Blue Bird by 3.3% during the second quarter. BlackRock Inc. now owns 1,082,321 shares of the company’s stock valued at $21,310,000 after purchasing an additional 34,807 shares during the period. FIL Ltd grew its holdings in Blue Bird by 7.4% during the first 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 during the period. Vanguard Group Inc. grew its holdings in Blue Bird by 0.7% during the second quarter. Vanguard Group Inc. now owns 722,692 shares of the company’s stock valued at $14,230,000 after purchasing an additional 5,290 shares during the period. Finally, North Star Investment Management Corp. grew its holdings in Blue Bird by 14.0% during the second quarter. North Star Investment Management Corp. now owns 293,196 shares of the company’s stock valued at $5,773,000 after purchasing an additional 35,953 shares during the period. 98.23% of the stock is owned by institutional investors and hedge funds.

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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