BlackRock Inc. Invests $207.49 Million in Blue Bird Corporation $BLBD

BlackRock Inc. bought a new position in Blue Bird Corporation (NASDAQ:BLBD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,627,824 shares of the company’s stock, valued at approximately $207,493,000. BlackRock Inc. owned about 0.08% of Blue Bird as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BLBD. Dunhill Financial LLC acquired a new position in Blue Bird in the 2nd quarter worth approximately $39,000. GAMMA Investing LLC raised its stake in Blue Bird by 85.5% during the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company’s stock valued at $50,000 after purchasing an additional 290 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 purchasing an additional 702 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Blue Bird in the second quarter valued at $57,000. Finally, Rockefeller Capital Management L.P. boosted its position 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 buying an additional 525 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Analysts Set New Price Targets

BLBD has been the topic of a number of research analyst reports. BTIG Research lifted their price target on Blue Bird from $80.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Blue Bird from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. DA Davidson lifted their target price on Blue Bird from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $86.00 target price on shares of Blue Bird in a report on Thursday, August 6th. Finally, Roth Capital set a $93.00 price target on shares of Blue Bird in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $85.33.

Blue Bird Stock Down 1.0%

Shares of Blue Bird stock opened at $59.90 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 7.29, a P/E/G ratio of 0.79 and a beta of 1.36. The stock has a 50-day simple moving average of $72.57 and a 200-day simple moving average of $66.18. Blue Bird Corporation has a 52-week low of $46.14 and a 52-week high of $83.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. The firm had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. On average, equities research analysts expect that Blue Bird Corporation will post 4.68 earnings per share for the current fiscal year.

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.