Blue Bird (NASDAQ:BLBD) Sets New 12-Month Low – Here’s What Happened

Blue Bird Co. (NASDAQ:BLBD) reached a new 52-week low on Thursday . The company traded as low as $30.41 and last traded at $31.92, with a volume of 963134 shares trading hands. The stock had previously closed at $33.71.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Thursday. Needham & Company LLC lowered their target price on Blue Bird from $66.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.21.

Blue Bird Stock Performance

The company has a market cap of $1.04 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 1.44 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $34.99 and a 200-day simple moving average of $39.93.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. On average, research analysts forecast that Blue Bird Co. will post 3.86 EPS for the current fiscal year.

Insider Activity

In other news, CFO Razvan Radulescu sold 2,848 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.12, for a total value of $108,565.76. Following the completion of the transaction, the chief financial officer now directly owns 88,664 shares of the company’s stock, valued at $3,379,871.68. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Trading of Blue Bird

A number of hedge funds have recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in shares of Blue Bird in the 3rd quarter worth about $26,000. Dunhill Financial LLC raised its position in shares of Blue Bird by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 1,000 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares in the last quarter. Quarry LP lifted its holdings in Blue Bird by 55.0% in the fourth quarter. Quarry LP now owns 1,262 shares of the company’s stock worth $49,000 after acquiring an additional 448 shares during the last quarter. KBC Group NV grew its position in shares of Blue Bird by 75.3% during the fourth quarter. KBC Group NV now owns 1,420 shares of the company’s stock worth $55,000 after acquiring an additional 610 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Blue Bird by 44.1% in the 4th quarter. NewEdge Advisors LLC now owns 2,204 shares of the company’s stock worth $85,000 after buying an additional 674 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Blue Bird

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.