Blue Bird (BLBD) Releases Quarterly Earnings Results

Blue Bird (NASDAQ:BLBD) announced its earnings results on Wednesday, August 8th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.26, Fidelity Earnings reports. The business had revenue of $314.19 million during the quarter, compared to analysts’ expectations of $320.90 million. Blue Bird had a net margin of 3.02% and a negative return on equity of 45.73%.

Shares of NASDAQ BLBD traded up $0.15 during mid-day trading on Friday, hitting $22.95. The company’s stock had a trading volume of 106,500 shares, compared to its average volume of 108,179. The firm has a market capitalization of $614.07 million, a PE ratio of 18.51 and a beta of 1.15. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of -2.56. Blue Bird has a one year low of $15.66 and a one year high of $24.99.

In other news, Director Daniel J. Hennessy sold 8,013 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $22.91, for a total value of $183,577.83. Following the transaction, the director now owns 50,178 shares of the company’s stock, valued at approximately $1,149,577.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.70% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in Blue Bird stock. Bank of New York Mellon Corp grew its holdings in Blue Bird Corp (NASDAQ:BLBD) by 19.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,926 shares of the company’s stock after purchasing an additional 12,452 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Blue Bird worth $1,697,000 at the end of the most recent quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on BLBD shares. ValuEngine upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. BidaskClub cut shares of Blue Bird from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th. Finally, Roth Capital set a $24.00 price objective on shares of Blue Bird and gave the company a “buy” rating in a research report on Thursday, August 9th.

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.

Further Reading: Hedge Funds

Earnings History for Blue Bird (NASDAQ:BLBD)

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