Blue Bird (NASDAQ:BLBD) Trading Down 6%

Shares of Blue Bird Co. (NASDAQ:BLBD) traded down 6% on Friday . The stock traded as low as $45.78 and last traded at $45.83. 101,566 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 560,371 shares. The stock had previously closed at $48.75.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BLBD. DA Davidson upped their price target on Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price (up previously from $52.00) on shares of Blue Bird in a report on Wednesday, July 17th. Barclays upped their price target on Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Craig Hallum boosted their target price on Blue Bird from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Roth Mkm increased their price objective on shares of Blue Bird from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $60.00.

Blue Bird Stock Performance

The stock has a market capitalization of $1.50 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.27 and a beta of 1.63. The stock has a 50 day simple moving average of $49.29 and a two-hundred day simple moving average of $44.70. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. The company had revenue of $333.37 million during the quarter, compared to analysts’ expectations of $330.00 million. During the same period last year, the firm posted $0.42 earnings per share. On average, equities analysts forecast that Blue Bird Co. will post 3.22 EPS for the current fiscal year.

Insider Buying and Selling at Blue Bird

In related news, CEO Phil Horlock sold 32,159 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the transaction, the chief executive officer now directly owns 299,812 shares of the company’s stock, valued at $14,669,801.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Razvan Radulescu sold 5,000 shares of Blue Bird stock in a transaction on Friday, July 5th. The stock was sold at an average price of $47.08, for a total value of $235,400.00. Following the transaction, the chief financial officer now owns 88,926 shares in the company, valued at approximately $4,186,636.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phil Horlock sold 32,159 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the completion of the transaction, the chief executive officer now directly owns 299,812 shares of the company’s stock, valued at approximately $14,669,801.16. The disclosure for this sale can be found here. Insiders have sold a total of 58,732 shares of company stock valued at $2,835,622 in the last three months. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Blue Bird

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd acquired a new stake in shares of Blue Bird during the 1st quarter worth approximately $29,000. Macroview Investment Management LLC bought a new stake in Blue Bird during the second quarter worth $29,000. CWM LLC raised its holdings in shares of Blue Bird by 220.1% in the fourth quarter. CWM LLC now owns 1,290 shares of the company’s stock valued at $35,000 after purchasing an additional 887 shares during the last quarter. Quarry LP lifted its position in shares of Blue Bird by 43.9% during the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after buying an additional 358 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Blue Bird in the second quarter worth $81,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.