Blue Bird (NASDAQ:BLBD) Trading Down 5.8% – Here’s Why

Shares of Blue Bird Co. (NASDAQ:BLBD) dropped 5.8% during trading on Tuesday . The stock traded as low as $33.41 and last traded at $33.28. Approximately 306,465 shares traded hands during trading, a decline of 54% from the average daily volume of 665,436 shares. The stock had previously closed at $35.32.

Analyst Upgrades and Downgrades

BLBD has been the subject of several research reports. StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Saturday, April 12th. Needham & Company LLC dropped their price target on Blue Bird from $66.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Blue Bird presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.21.

Blue Bird Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 1.44. The company has a fifty day moving average price of $34.29 and a two-hundred day moving average price of $38.72. The company has a market cap of $1.08 billion, a P/E ratio of 10.44, a PEG ratio of 0.84 and a beta of 1.38.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. On average, sell-side analysts anticipate that Blue Bird Co. will post 3.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Blue Bird

In other news, CFO Razvan Radulescu sold 2,848 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.12, for a total value of $108,565.76. Following the sale, the chief financial officer now directly owns 88,664 shares of the company’s stock, valued at approximately $3,379,871.68. This represents a 3.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Blue Bird

Institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI bought a new stake in Blue Bird in the 3rd quarter valued at $26,000. Dunhill Financial LLC raised its position in shares of Blue Bird by 100.0% in the fourth quarter. Dunhill Financial LLC now owns 1,000 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the period. Quarry LP boosted its holdings in shares of Blue Bird by 55.0% during the 4th quarter. Quarry LP now owns 1,262 shares of the company’s stock worth $49,000 after buying an additional 448 shares during the period. KBC Group NV grew its stake in Blue Bird by 75.3% in the 4th quarter. KBC Group NV now owns 1,420 shares of the company’s stock valued at $55,000 after buying an additional 610 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Blue Bird by 44.1% during the fourth quarter. NewEdge Advisors LLC now owns 2,204 shares of the company’s stock worth $85,000 after acquiring an additional 674 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.

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.