ValuEngine lowered shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a report issued on Tuesday morning.

Several other equities research analysts have also recently commented on BLBD. BidaskClub raised shares of Blue Bird from a strong sell rating to a sell rating in a research report on Tuesday, June 19th. Roth Capital set a $24.00 price target on shares of Blue Bird and gave the stock a buy rating in a research report on Thursday, August 9th.

NASDAQ:BLBD traded down $0.34 on Tuesday, hitting $22.92. 206,821 shares of the company’s stock were exchanged, compared to its average volume of 123,353. The company has a debt-to-equity ratio of -2.56, a current ratio of 1.06 and a quick ratio of 0.44. Blue Bird has a 52 week low of $15.66 and a 52 week high of $26.95. The stock has a market capitalization of $662.38 million, a PE ratio of 18.48 and a beta of 1.12.

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

In other news, Director Daniel J. Hennessy sold 8,013 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $22.91, for a total transaction of $183,577.83. Following the transaction, the director now directly owns 50,178 shares in the company, valued at approximately $1,149,577.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Hennessy sold 27,887 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $22.84, for a total transaction of $636,939.08. Following the transaction, the director now owns 5,053 shares in the company, valued at $115,410.52. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the business. Osterweis Capital Management Inc. acquired a new position in shares of Blue Bird during the 2nd quarter worth approximately $58,345,000. BlackRock Inc. grew its position in shares of Blue Bird by 42.4% during the 2nd quarter. BlackRock Inc. now owns 775,397 shares of the company’s stock worth $17,330,000 after purchasing an additional 230,846 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Blue Bird by 2.2% during the 2nd quarter. North Star Investment Management Corp. now owns 235,045 shares of the company’s stock worth $5,253,000 after purchasing an additional 5,000 shares in the last quarter. LSV Asset Management grew its position in shares of Blue Bird by 4.3% during the 2nd quarter. LSV Asset Management now owns 202,933 shares of the company’s stock worth $4,535,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Blue Bird during the 1st quarter worth approximately $4,274,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Blue Bird Company Profile

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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