Blue Bird (NASDAQ:BLBD) Trading Down 6%

Blue Bird Co. (NASDAQ:BLBD)’s stock price was down 6% during trading on Friday . The company traded as low as $45.78 and last traded at $45.83. Approximately 101,566 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 560,371 shares. The stock had previously closed at $48.75.

Wall Street Analysts Forecast Growth

BLBD has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective (up from $52.00) on shares of Blue Bird in a research report on Wednesday, July 17th. DA Davidson lifted their price objective on Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. StockNews.com downgraded Blue Bird from a “buy” rating to a “hold” rating in a research note on Friday. Barclays raised their target price on Blue Bird from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Craig Hallum boosted their price target on Blue Bird from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.00.

Blue Bird Stock Down 5.0 %

The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 0.27 and a beta of 1.63. The stock has a 50 day simple moving average of $49.14 and a 200 day simple moving average of $44.90. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. The business had revenue of $333.37 million during the quarter, compared to analyst estimates of $330.00 million. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, analysts expect that Blue Bird Co. will post 3.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Blue Bird

In other news, CEO Phil Horlock sold 32,159 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $48.93, for a total value of $1,573,539.87. Following the completion of the sale, the chief executive officer now directly owns 299,812 shares of the company’s stock, valued at $14,669,801.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Blue Bird news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $48.00, for a total value of $120,384.00. Following the completion of the sale, the president now directly owns 83,125 shares of the company’s stock, valued at approximately $3,990,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phil Horlock sold 32,159 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the completion of the sale, the chief executive officer now owns 299,812 shares of the company’s stock, valued at approximately $14,669,801.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,732 shares of company stock worth $2,835,622. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Blue Bird

Several institutional investors have recently modified their holdings of the business. Covestor Ltd purchased a new position in Blue Bird in the first quarter worth $29,000. Macroview Investment Management LLC purchased a new position in shares of Blue Bird in the 2nd quarter worth about $29,000. Quarry LP grew its position in Blue Bird by 43.9% during the second quarter. Quarry LP now owns 1,174 shares of the company’s stock valued at $63,000 after buying an additional 358 shares during the period. Meeder Asset Management Inc. purchased a new stake in Blue Bird during the second quarter worth about $81,000. Finally, Victory Capital Management Inc. bought a new stake in Blue Bird in the fourth quarter worth about $89,000. 93.59% of the stock is owned by institutional investors.

Blue Bird Company Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.