EVR Research LP Has $3.45 Million Position in Blue Bird Corporation $BLBD

EVR Research LP lessened its position in Blue Bird Corporation (NASDAQ:BLBD) by 81.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after selling 345,000 shares during the period. Blue Bird comprises about 1.5% of EVR Research LP’s portfolio, making the stock its 19th largest holding. EVR Research LP owned 0.25% of Blue Bird worth $3,453,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BLBD. University of Texas Texas AM Investment Management Co. bought a new position in Blue Bird during the second quarter worth about $29,000. Nisa Investment Advisors LLC lifted its position in shares of Blue Bird by 159.9% in the second quarter. Nisa Investment Advisors LLC now owns 993 shares of the company’s stock valued at $43,000 after buying an additional 611 shares during the last quarter. US Bancorp DE boosted its stake in shares of Blue Bird by 440.1% during the 1st quarter. US Bancorp DE now owns 1,442 shares of the company’s stock worth $47,000 after acquiring an additional 1,175 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Blue Bird by 30.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,885 shares of the company’s stock worth $93,000 after acquiring an additional 681 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in Blue Bird in the 1st quarter valued at $102,000. 93.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

BLBD has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and set a $65.00 price objective on shares of Blue Bird in a research report on Tuesday, November 25th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Blue Bird in a research note on Tuesday, November 25th. UBS Group reissued a “buy” rating on shares of Blue Bird in a report on Monday, November 3rd. Zacks Research downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, DA Davidson lifted their price target on Blue Bird from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Blue Bird currently has an average rating of “Moderate Buy” and an average target price of $64.60.

Insider Activity

In related news, CFO Razvan Radulescu sold 7,984 shares of Blue Bird stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $50.39, for a total value of $402,313.76. Following the transaction, the chief financial officer directly owned 49,087 shares of the company’s stock, valued at $2,473,493.93. This trade represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Blue Bird Trading Down 2.2%

Shares of NASDAQ:BLBD opened at $50.36 on Friday. The business’s 50 day simple moving average is $52.56 and its 200 day simple moving average is $50.42. Blue Bird Corporation has a 1 year low of $30.04 and a 1 year high of $61.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.15. The company has a market capitalization of $1.60 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.44 and a beta of 1.42.

Blue Bird (NASDAQ:BLBD) last released its earnings results on Monday, November 24th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.35. The firm had revenue of $409.37 million during the quarter, compared to the consensus estimate of $380.37 million. Blue Bird had a return on equity of 62.87% and a net margin of 8.63%.The company’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, research analysts anticipate that Blue Bird Corporation will post 3.86 EPS for the current fiscal year.

About Blue Bird

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.