ValuEngine cut shares of Blue Bird (NASDAQ:BLBD) from a sell rating to a strong sell rating in a report issued on Tuesday, ValuEngine reports.

Several other equities research analysts also recently issued reports on BLBD. Zacks Investment Research upgraded shares of Blue Bird from a strong sell rating to a hold rating in a research report on Friday, July 12th. Stifel Nicolaus upgraded shares of Blue Bird from a hold rating to a buy rating and raised their price objective for the stock from $21.00 to $23.00 in a research report on Monday, May 13th. Finally, BidaskClub downgraded shares of Blue Bird from a buy rating to a hold rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $22.50.

Blue Bird stock opened at $18.30 on Tuesday. Blue Bird has a 52 week low of $15.67 and a 52 week high of $26.95. The stock has a market capitalization of $483.66 million, a P/E ratio of 10.76 and a beta of 0.98. The stock has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $18.60.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Blue Bird had a negative return on equity of 64.11% and a net margin of 2.74%. The business had revenue of $308.77 million for the quarter.

Hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Blue Bird by 8.5% during the fourth quarter. BlackRock Inc. now owns 999,398 shares of the company’s stock worth $18,179,000 after acquiring an additional 78,023 shares during the last quarter. FIL Ltd raised its position in shares of Blue Bird by 7.4% in the first quarter. FIL Ltd now owns 1,055,494 shares of the company’s stock valued at $17,870,000 after buying an additional 73,158 shares in the last quarter. Bank of America Corp DE raised its position in shares of Blue Bird by 95.3% in the fourth quarter. Bank of America Corp DE now owns 8,834 shares of the company’s stock valued at $160,000 after buying an additional 4,311 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Blue Bird by 35.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 202,300 shares of the company’s stock valued at $3,680,000 after buying an additional 52,492 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Blue Bird by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 173,090 shares of the company’s stock valued at $3,148,000 after buying an additional 7,095 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments, Bus and Parts. The company offers Type C, Type D, and specialty buses; and alternative fuel applications through its propane-powered, gasoline-powered, compressed natural gas-powered, and electric powered school buses.

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