BidaskClub Downgrades Blue Bird (NASDAQ:BLBD) to Buy

Blue Bird (NASDAQ:BLBD) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Several other equities research analysts have also issued reports on BLBD. Zacks Investment Research raised Blue Bird from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, December 17th. Roth Capital began coverage on Blue Bird in a research report on Thursday, October 10th. They set a “buy” rating and a $23.00 price target for the company. Finally, ValuEngine raised Blue Bird from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Blue Bird currently has a consensus rating of “Buy” and a consensus price target of $23.00.

Shares of NASDAQ BLBD traded up $0.41 during mid-day trading on Tuesday, hitting $22.69. 1,487 shares of the stock traded hands, compared to its average volume of 165,896. Blue Bird has a twelve month low of $16.37 and a twelve month high of $23.99. The company has a market cap of $594.21 million, a PE ratio of 15.06 and a beta of 1.05. The firm has a 50 day simple moving average of $21.83 and a two-hundred day simple moving average of $19.84.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.03). Blue Bird had a net margin of 2.38% and a negative return on equity of 56.27%. The firm had revenue of $343.53 million for the quarter, compared to analyst estimates of $332.50 million. On average, equities analysts anticipate that Blue Bird will post 1.9 EPS for the current year.

Several hedge funds have recently bought and sold shares of the business. Zebra Capital Management LLC purchased a new stake in shares of Blue Bird in the 3rd quarter worth approximately $225,000. Willis Investment Counsel grew its stake in shares of Blue Bird by 3.1% in the 3rd quarter. Willis Investment Counsel now owns 156,151 shares of the company’s stock worth $2,972,000 after buying an additional 4,627 shares during the last quarter. State Street Corp grew its stake in shares of Blue Bird by 0.9% in the 3rd quarter. State Street Corp now owns 262,254 shares of the company’s stock worth $4,992,000 after buying an additional 2,235 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Blue Bird by 19.4% in the 3rd quarter. California Public Employees Retirement System now owns 19,532 shares of the company’s stock worth $372,000 after buying an additional 3,172 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Blue Bird by 5.3% in the 3rd quarter. Rhumbline Advisers now owns 21,058 shares of the company’s stock worth $401,000 after buying an additional 1,066 shares during the last quarter. Hedge funds and other 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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