Blue Bird (NASDAQ:BLBD) Posts Earnings Results, Misses Expectations By $0.21 EPS

Blue Bird (NASDAQ:BLBD – Get Rating) announced its earnings results on Thursday. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.21), Fidelity Earnings reports. Blue Bird had a negative net margin of 0.40% and a negative return on equity of 6.12%. During the same quarter last year, the company posted $0.03 earnings per share. Blue Bird updated its FY 2022 guidance to EPS.

Shares of BLBD opened at $13.08 on Friday. Blue Bird has a 1 year low of $12.41 and a 1 year high of $28.68. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.46 and a quick ratio of 0.20. The company’s 50 day simple moving average is $18.31 and its 200 day simple moving average is $18.44.

Several brokerages recently issued reports on BLBD. Zacks Investment Research downgraded shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 12th. Roth Capital raised shares of 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. Finally, StockNews.com began coverage on shares of Blue Bird in a research note on Thursday, March 31st. They set a “sell” rating on the stock.

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 shares were sold at an average price of $21.25, for a total transaction of $32,406.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of BLBD. California State Teachers Retirement System increased its position in shares of Blue Bird by 4.3% in the fourth quarter. California State Teachers Retirement System now owns 23,258 shares of the company’s stock worth $364,000 after acquiring an additional 969 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Blue Bird by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 280,189 shares of the company’s stock worth $4,382,000 after acquiring an additional 1,084 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Blue Bird by 31.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 5,123 shares of the company’s stock worth $80,000 after acquiring an additional 1,234 shares in the last quarter. Citigroup Inc. increased its position in shares of Blue Bird by 13.5% in the fourth quarter. Citigroup Inc. now owns 11,516 shares of the company’s stock worth $180,000 after acquiring an additional 1,366 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Blue Bird by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 65,637 shares of the company’s stock worth $1,235,000 after acquiring an additional 2,306 shares in the last quarter. 87.73% of the stock is owned by hedge funds and other institutional investors.

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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