ValuEngine downgraded shares of Blue Bird (NASDAQ:BLBD) from a hold rating to a sell rating in a research report released on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. Roth Capital set a $24.00 price objective on shares of Blue Bird and gave the stock a buy rating in a report on Thursday, August 9th. BidaskClub upgraded shares of Blue Bird from a hold rating to a buy rating in a report on Wednesday, July 4th.

BLBD traded down $0.52 during midday trading on Friday, reaching $18.25. The company’s stock had a trading volume of 140,827 shares, compared to its average volume of 309,155. The stock has a market cap of $493.41 million, a PE ratio of 14.72 and a beta of 1.12. Blue Bird has a 1 year low of $15.66 and a 1 year high of $26.95.

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

In other news, Director Daniel J. Hennessy sold 27,887 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $22.84, for a total transaction of $636,939.08. Following the sale, the director now owns 5,053 shares in the company, valued at $115,410.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Asp Bb Holdings Llc sold 969,850 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $28.00, for a total transaction of $27,155,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,005,750 shares of company stock worth $27,976,317. Corporate insiders own 16.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. California Public Employees Retirement System grew its holdings in shares of Blue Bird by 16.1% during the second quarter. California Public Employees Retirement System now owns 17,420 shares of the company’s stock valued at $389,000 after buying an additional 2,420 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Blue Bird by 37.9% during the first quarter. The Manufacturers Life Insurance Company now owns 8,952 shares of the company’s stock valued at $213,000 after buying an additional 2,462 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Blue Bird by 30.8% during 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. North Star Investment Management Corp. grew its holdings in shares of Blue Bird by 2.2% during the second quarter. North Star Investment Management Corp. now owns 235,045 shares of the company’s stock valued at $5,253,000 after buying an additional 5,000 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Blue Bird by 52.6% during the first quarter. California State Teachers Retirement System now owns 17,876 shares of the company’s stock valued at $424,000 after buying an additional 6,164 shares during the last quarter. Hedge funds and other institutional investors own 97.17% 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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