Wedge Capital Management L L P NC Has $3.49 Million Stock Position in Blue Bird Corporation $BLBD

Wedge Capital Management L L P NC trimmed its stake in Blue Bird Corporation (NASDAQ:BLBD) by 18.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,162 shares of the company’s stock after selling 9,931 shares during the period. Wedge Capital Management L L P NC owned about 0.14% of Blue Bird worth $3,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Blue Bird by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company’s stock valued at $618,000 after buying an additional 820 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Blue Bird by 30.9% during the first quarter. NewEdge Advisors LLC now owns 2,885 shares of the company’s stock worth $93,000 after buying an additional 681 shares in the last quarter. Jones Financial Companies Lllp raised its position in Blue Bird by 2,090.5% in the 1st quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company’s stock valued at $112,000 after purchasing an additional 3,303 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Blue Bird by 12.5% in the second quarter. New York State Common Retirement Fund now owns 12,676 shares of the company’s stock valued at $547,000 after buying an additional 1,412 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Blue Bird in the second quarter worth about $3,799,000. 93.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BLBD shares. Wall Street Zen lowered Blue Bird from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BTIG Research boosted their price target on shares of Blue Bird from $80.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Roth Capital set a $93.00 price objective on Blue Bird in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $86.00 target price on shares of Blue Bird in a report on Thursday, August 6th. Finally, DA Davidson raised their price target on shares of Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $85.33.

Blue Bird Trading Up 0.5%

NASDAQ BLBD opened at $64.67 on Friday. Blue Bird Corporation has a 12 month low of $46.14 and a 12 month high of $83.39. The company has a current ratio of 1.64, a quick ratio of 0.67 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $74.61 and a 200-day moving average of $65.51. The company has a market cap of $2.05 billion, a PE ratio of 7.87, a PEG ratio of 0.84 and a beta of 1.36.

Blue Bird (NASDAQ:BLBD) last issued its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The business had revenue of $517.16 million for the quarter, compared to the consensus estimate of $485.73 million. On average, equities research analysts anticipate that Blue Bird Corporation will post 4.68 EPS for the current fiscal year.

About Blue Bird

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.