Blue Bird (NASDAQ:BLBD) Shares Down 8.5% – Here’s What Happened

Blue Bird Corporation (NASDAQ:BLBD) shares fell 8.5% during mid-day trading on Tuesday . The stock traded as low as $68.05 and last traded at $66.5450. 30,194 shares traded hands during trading, a decline of 93% from the average session volume of 434,964 shares. The stock had previously closed at $72.74.

Analysts Set New Price Targets

BLBD has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Blue Bird from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Zacks Research cut shares of Blue Bird from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Blue Bird from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. BTIG Research increased their price objective on shares of Blue Bird from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC raised their price objective on Blue Bird from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Blue Bird Trading Down 10.8%

The stock has a fifty day moving average of $60.89 and a 200-day moving average of $55.32. The company has a market cap of $2.05 billion, a PE ratio of 15.86, a PEG ratio of 1.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.83.

Blue Bird (NASDAQ:BLBD) last released its earnings results on Wednesday, May 6th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. The business had revenue of $352.64 million during the quarter, compared to the consensus estimate of $335.23 million. Blue Bird had a return on equity of 53.68% and a net margin of 8.91%.The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. Sell-side analysts anticipate that Blue Bird Corporation will post 4.35 EPS for the current fiscal year.

Insider Activity

In other news, COO Jeffrey Scott Sanfrey sold 5,192 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $58.54, for a total value of $303,939.68. Following the sale, the chief operating officer directly owned 39,011 shares in the company, valued at approximately $2,283,703.94. This trade represents a 11.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Razvan Radulescu sold 3,925 shares of Blue Bird stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $60.98, for a total transaction of $239,346.50. Following the completion of the transaction, the chief financial officer directly owned 42,255 shares in the company, valued at $2,576,709.90. This represents a 8.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in shares of Blue Bird by 210.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company’s stock worth $36,000 after purchasing an additional 525 shares during the last quarter. Transamerica Financial Advisors LLC boosted its position in Blue Bird by 222.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 823 shares of the company’s stock valued at $39,000 after buying an additional 568 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Blue Bird by 10,028.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $41,000 after buying an additional 702 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Blue Bird in the 4th quarter worth approximately $41,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Blue Bird during the 4th quarter worth approximately $63,000. 93.59% of the stock is owned by institutional investors and hedge funds.

About Blue Bird

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.