Blue Bird (NASDAQ:BLBD) posted its earnings results on Thursday. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04, Fidelity Earnings reports. The company had revenue of $331.61 million for the quarter, compared to analyst estimates of $322.70 million. Blue Bird had a net margin of 3.01% and a negative return on equity of 52.45%.
NASDAQ:BLBD opened at $18.08 on Friday. The stock has a market capitalization of $502.87 million, a price-to-earnings ratio of 11.77 and a beta of 1.47. Blue Bird has a 1-year low of $15.66 and a 1-year high of $26.95.
In other Blue Bird news, major shareholder Asp Bb Holdings Llc sold 969,850 shares of the business’s stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $28.00, for a total value of $27,155,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC lifted its holdings in shares of Blue Bird by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 8,926 shares of the company’s stock worth $219,000 after acquiring an additional 3,175 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Blue Bird by 447.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,394 shares of the company’s stock worth $230,000 after acquiring an additional 7,679 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of Blue Bird in the 3rd quarter worth approximately $233,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Blue Bird in the 3rd quarter worth approximately $274,000. Finally, GenTrust LLC acquired a new position in shares of Blue Bird in the 3rd quarter worth approximately $298,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.
Several research firms have weighed in on BLBD. BidaskClub lowered shares of Blue Bird from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Roth Capital reiterated a “buy” rating and issued a $22.00 target price on shares of Blue Bird in a report on Tuesday. Finally, ValuEngine lowered shares of Blue Bird from a “hold” rating to a “sell” rating in a report on Saturday, October 27th.
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About Blue Bird
Blue Bird Corporation designs, engineers, manufactures, and sells school buses and aftermarket parts in the United States, Canada, and internationally. The company operates through two segments, Buses and Aftermarket Parts. It offers Type C, Type D, and specialty buses, as well as Sigma, a bus for public transportation.
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