Other research analysts have also issued research reports about the company. Roth Capital assumed coverage on Blue Bird in a research report on Thursday, October 10th. They set a “buy” rating and a $23.00 price objective for the company. ValuEngine upgraded Blue Bird from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. Finally, Zacks Investment Research upgraded Blue Bird from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $23.00.
Shares of Blue Bird stock traded up $0.41 during trading on Tuesday, reaching $22.69. 1,487 shares of the stock traded hands, compared to its average volume of 165,896. The company has a market capitalization of $594.21 million, a price-to-earnings ratio of 15.06 and a beta of 1.05. The business has a fifty day simple moving average of $21.83 and a two-hundred day simple moving average of $19.84. Blue Bird has a 52-week low of $16.37 and a 52-week high of $23.99.
Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03). The firm had revenue of $343.53 million for the quarter, compared to analysts’ expectations of $332.50 million. Blue Bird had a net margin of 2.38% and a negative return on equity of 56.27%. On average, sell-side analysts predict that Blue Bird will post 1.9 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLBD. River & Mercantile Asset Management LLP purchased a new stake in shares of Blue Bird in the 2nd quarter valued at approximately $2,201,000. BlackRock Inc. boosted its position in shares of Blue Bird by 3.3% during the 2nd quarter. BlackRock Inc. now owns 1,082,321 shares of the company’s stock worth $21,310,000 after purchasing an additional 34,807 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Blue Bird by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 272,488 shares of the company’s stock worth $5,364,000 after purchasing an additional 23,399 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Blue Bird by 33.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 81,932 shares of the company’s stock worth $1,573,000 after purchasing an additional 20,652 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in shares of Blue Bird during the 3rd quarter worth approximately $301,000. Institutional investors own 96.15% of the company’s stock.
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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