Zacks Investment Research Lowers Blue Bird (NASDAQ:BLBD) to Hold

Blue Bird (NASDAQ:BLBD – Get Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Blue Bird Corp. is engaged in the designing, engineering, manufacturing and sale of school buses and related parts. It also offers alternative fuel applications with its propane-powered and compressed natural gas-powered school buses. Blue Bird Corp. is headquartered in Cambridge, Massachusetts. “

Several other research firms also recently issued reports on BLBD. Roth Capital raised Blue Bird from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.00 to $29.00 in a research note on Tuesday, February 15th. StockNews.com started coverage on Blue Bird in a research note on Thursday, March 31st. They issued a “sell” rating for the company.

NASDAQ BLBD traded down $0.07 during trading on Tuesday, hitting $17.46. 54,844 shares of the company’s stock were exchanged, compared to its average volume of 127,681. The company has a current ratio of 1.46, a quick ratio of 0.20 and a debt-to-equity ratio of 3.99. The company has a market cap of $558.28 million, a PE ratio of -174.58 and a beta of 0.93. Blue Bird has a fifty-two week low of $13.79 and a fifty-two week high of $28.68. The stock’s 50 day moving average price is $19.48 and its two-hundred day moving average price is $19.07.

Blue Bird (NASDAQ:BLBD – Get Rating) last released its quarterly earnings data on Wednesday, February 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.21. Blue Bird had a negative return on equity of 6.12% and a negative net margin of 0.40%. The company had revenue of $129.22 million during the quarter, compared to the consensus estimate of $120.00 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Analysts forecast that Blue Bird will post 0.08 earnings per share for the current fiscal year.

In related news, General Counsel Paul Yousif sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $21.25, for a total value of $32,406.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Blue Bird by 31.7% during the 4th quarter. BNP Paribas Arbitrage SA now owns 5,123 shares of the company’s stock worth $80,000 after buying an additional 1,234 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Blue Bird by 107.1% during the fourth quarter. MetLife Investment Management LLC now owns 5,762 shares of the company’s stock worth $90,000 after purchasing an additional 2,980 shares during the period. SG Americas Securities LLC acquired a new position in shares of Blue Bird during the third quarter worth approximately $123,000. Citigroup Inc. raised its position in shares of Blue Bird by 13.5% during the fourth quarter. Citigroup Inc. now owns 11,516 shares of the company’s stock worth $180,000 after purchasing an additional 1,366 shares during the period. Finally, Credit Suisse AG raised its position in shares of Blue Bird by 13.6% during the third quarter. Credit Suisse AG now owns 9,947 shares of the company’s stock worth $207,000 after purchasing an additional 1,193 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Blue Bird Company Profile (Get Rating)

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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