ValuEngine Downgrades Blue Bird (BLBD) to Hold

Blue Bird (NASDAQ:BLBD) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities research analysts have also recently weighed in on BLBD. BidaskClub upgraded Blue Bird from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 19th. Roth Capital set a $24.00 price objective on Blue Bird and gave the stock a “buy” rating in a research note on Thursday, August 9th.

Shares of NASDAQ BLBD opened at $20.53 on Wednesday. The company has a debt-to-equity ratio of -2.56, a current ratio of 1.06 and a quick ratio of 0.44. The firm has a market cap of $662.38 million, a P/E ratio of 17.00 and a beta of 1.12. Blue Bird has a 1-year low of $15.66 and a 1-year high of $26.95.

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

In related news, Director Daniel J. Hennessy sold 8,013 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $22.91, for a total transaction of $183,577.83. Following the completion of the sale, the director now directly owns 50,178 shares in the company, valued at approximately $1,149,577.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Hennessy sold 27,887 shares of the company’s 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 sale, the director now owns 5,053 shares of the company’s stock, valued at $115,410.52. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Osterweis Capital Management Inc. acquired a new position in Blue Bird during the 2nd quarter valued at about $58,345,000. BlackRock Inc. increased its position in Blue Bird by 42.4% during the 2nd quarter. BlackRock Inc. now owns 775,397 shares of the company’s stock valued at $17,330,000 after buying an additional 230,846 shares in the last quarter. North Star Investment Management Corp. increased its position in Blue Bird by 2.2% during the 2nd quarter. North Star Investment Management Corp. now owns 235,045 shares of the company’s stock valued at $5,253,000 after buying an additional 5,000 shares in the last quarter. LSV Asset Management increased its position in Blue Bird by 4.3% during the 2nd quarter. LSV Asset Management now owns 202,933 shares of the company’s stock valued at $4,535,000 after buying an additional 8,400 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Blue Bird during the 1st quarter valued at about $4,274,000. 97.21% of the stock is currently owned by institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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