ValuEngine downgraded shares of Blue Bird (NASDAQ:BLBD) from a buy rating to a hold rating in a report published on Wednesday.

BLBD has been the topic of several other research reports. Roth Capital set a $24.00 price objective on shares of Blue Bird and gave the stock a buy rating in a research note on Thursday, August 9th. BidaskClub upgraded shares of Blue Bird from a hold rating to a buy rating in a research note on Wednesday, July 4th.

BLBD traded down $0.62 during midday trading on Wednesday, hitting $19.91. 131,882 shares of the company’s stock traded hands, compared to its average volume of 283,276. The firm has a market cap of $555.05 million, a PE ratio of 16.06 and a beta of 1.12. The company has a debt-to-equity ratio of -2.56, a quick ratio of 0.44 and a current ratio of 1.06. Blue Bird has a one year low of $15.66 and a one year high of $26.95.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.91 EPS for the quarter, beating the Zacks’ 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 company had revenue of $314.19 million for the quarter, compared to analyst estimates of $320.90 million. On average, sell-side 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 27,887 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $22.84, for a total value of $636,939.08. Following the sale, the director now owns 5,053 shares in the company, valued at approximately $115,410.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Hennessy sold 8,013 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $22.91, for a total transaction of $183,577.83. Following the completion of the sale, the director now owns 50,178 shares in the company, valued at approximately $1,149,577.98. The disclosure for this sale can be found here. 16.70% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Blue Bird by 35.5% in the first quarter. Wells Fargo & Company MN now owns 117,633 shares of the company’s stock valued at $2,788,000 after buying an additional 30,839 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Blue Bird by 55.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 20,200 shares of the company’s stock valued at $479,000 after buying an additional 7,200 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Blue Bird by 63.0% in the first quarter. Northern Trust Corp now owns 130,044 shares of the company’s stock valued at $3,082,000 after buying an additional 50,248 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Blue Bird by 51.2% in the first quarter. BlackRock Inc. now owns 544,551 shares of the company’s stock valued at $12,905,000 after buying an additional 184,451 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Blue Bird by 30.8% in the first quarter. New York State Common Retirement Fund now owns 13,734 shares of the company’s stock valued at $325,000 after buying an additional 3,234 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

About Blue Bird

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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