Zacks: Blue Bird Corp (BLBD) Receives Average Recommendation of “Strong Buy” from Brokerages

Shares of Blue Bird Corp (NASDAQ:BLBD) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating. Blue Bird’s rating score has improved by 50% from three months ago as a result of various analysts’ upgrades and downgrades.

Brokers have set a 12 month consensus target price of $23.00 for the company and are anticipating that the company will post $0.70 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Blue Bird an industry rank of 174 out of 256 based on the ratings given to its competitors.

Several research firms have weighed in on BLBD. ValuEngine upgraded shares of Blue Bird from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Stifel Nicolaus upgraded shares of Blue Bird from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $23.00 in a research report on Monday, May 13th. Finally, BidaskClub cut shares of Blue Bird from a “buy” rating to a “hold” rating in a report on Friday, March 1st.

NASDAQ BLBD traded down $0.39 on Thursday, hitting $18.15. 24,928 shares of the stock were exchanged, compared to its average volume of 79,712. Blue Bird has a 52-week low of $15.67 and a 52-week high of $26.95. The stock has a market cap of $480.18 million, a price-to-earnings ratio of 10.68 and a beta of 1.19.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Blue Bird had a negative return on equity of 78.39% and a net margin of 3.45%. The firm had revenue of $211.64 million for the quarter, compared to analysts’ expectations of $217.80 million. On average, equities research analysts expect that Blue Bird will post 1.56 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Blue Bird during the 4th quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Blue Bird by 52.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,165 shares of the company’s stock valued at $37,000 after acquiring an additional 742 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Blue Bird by 901.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,174 shares of the company’s stock valued at $54,000 after acquiring an additional 2,857 shares in the last quarter. Covington Capital Management bought a new stake in Blue Bird in the fourth quarter worth $63,000. Finally, Citigroup Inc. boosted its holdings in Blue Bird by 19.6% in the first quarter. Citigroup Inc. now owns 3,952 shares of the company’s stock worth $67,000 after purchasing an additional 647 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Blue Bird Company Profile

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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