Blue Bird (NASDAQ:BLBD) Trading Down 6.8%

Blue Bird Co. (NASDAQ:BLBD) shares dropped 6.8% on Wednesday . The company traded as low as $33.28 and last traded at $33.57. Approximately 354,147 shares changed hands during trading, a decline of 29% from the average daily volume of 496,560 shares. The stock had previously closed at $36.01.

Analyst Ratings Changes

A number of brokerages have commented on BLBD. Roth Mkm upped their target price on shares of Blue Bird from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Barclays lifted their target price on Blue Bird from $25.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Needham & Company LLC started coverage on Blue Bird in a report on Thursday, February 29th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, StockNews.com cut shares of Blue Bird from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.58.

Blue Bird Trading Down 4.7 %

The company’s 50 day simple moving average is $34.11 and its two-hundred day simple moving average is $26.57. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 0.50 and a beta of 1.36. The company has a quick ratio of 0.54, a current ratio of 1.30 and a debt-to-equity ratio of 1.72.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.52. The business had revenue of $317.66 million during the quarter, compared to the consensus estimate of $265.00 million. Blue Bird had a return on equity of 223.85% and a net margin of 5.04%. As a group, research analysts anticipate that Blue Bird Co. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Blue Bird

In other news, major shareholder Asp Bb Holdings Llc sold 4,042,650 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.90, for a total value of $133,003,185.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Asp Bb Holdings Llc sold 4,042,650 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.90, for a total transaction of $133,003,185.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Phil Horlock sold 75,000 shares of Blue Bird stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $31.00, for a total value of $2,325,000.00. Following the completion of the transaction, the chief executive officer now owns 374,812 shares of the company’s stock, valued at approximately $11,619,172. The disclosure for this sale can be found here. Insiders have sold 4,257,597 shares of company stock worth $139,735,973 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blue Bird

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in Blue Bird by 220.1% in the 4th quarter. CWM LLC now owns 1,290 shares of the company’s stock valued at $35,000 after purchasing an additional 887 shares during the last quarter. Quarry LP grew its position in shares of Blue Bird by 113.0% in the second quarter. Quarry LP now owns 1,440 shares of the company’s stock valued at $32,000 after purchasing an additional 764 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Blue Bird by 89.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,157 shares of the company’s stock valued at $46,000 after purchasing an additional 1,020 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Blue Bird during the fourth quarter worth approximately $66,000. Finally, State of Wyoming acquired a new position in Blue Bird during the second quarter worth $65,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Company Profile

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.