Legal & General Group Plc bought a new stake in Blue Bird Corporation (NASDAQ:BLBD – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,302 shares of the company’s stock, valued at approximately $2,077,000. Legal & General Group Plc owned 0.08% of Blue Bird as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of BLBD. GAMMA Investing LLC raised its holdings in shares of Blue Bird by 85.5% in the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company’s stock valued at $50,000 after buying an additional 290 shares during the period. Kilter Group LLC acquired a new position in Blue Bird in the 2nd quarter valued at about $25,000. Quantinno Capital Management LP increased its stake in Blue Bird by 7.0% during the first quarter. Quantinno Capital Management LP now owns 4,950 shares of the company’s stock worth $281,000 after purchasing an additional 324 shares during the period. ProShare Advisors LLC lifted its position in shares of Blue Bird by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 5,793 shares of the company’s stock worth $272,000 after purchasing an additional 372 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of Blue Bird by 8.7% in the fourth quarter. Brooklyn Investment Group now owns 5,208 shares of the company’s stock valued at $261,000 after purchasing an additional 417 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on BLBD shares. Wall Street Zen cut shares of Blue Bird from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays lifted their target price on Blue Bird from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, July 20th. DA Davidson upped their price target on Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research raised Blue Bird from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $86.00 target price on shares of Blue Bird 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 company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $85.33.
Blue Bird Price Performance
Blue Bird stock opened at $63.63 on Monday. The stock’s 50 day moving average price is $70.77 and its 200 day moving average price is $66.35. Blue Bird Corporation has a 1-year low of $46.14 and a 1-year high of $83.39. The company has a market cap of $2.02 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 0.83 and a beta of 1.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67.
Blue Bird (NASDAQ:BLBD – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The company had revenue of $517.16 million for the quarter, compared to analyst estimates of $485.73 million. On average, sell-side analysts predict 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.
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