Zacks: Blue Bird Corp (BLBD) Given Consensus Rating of “Buy” by Brokerages

Blue Bird Corp (NASDAQ:BLBD) has received an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokerages have set a 12 month consensus price objective of $22.00 for the company and are expecting that the company will post $0.16 earnings per share for the current quarter, according to Zacks. Zacks has also given Blue Bird an industry rank of 181 out of 255 based on the ratings given to its competitors.

BLBD has been the subject of a number of research reports. BidaskClub downgraded shares of Blue Bird from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 18th. ValuEngine downgraded shares of Blue Bird from a “hold” rating to a “sell” rating in a research report on Friday, March 15th.

Shares of BLBD traded up $0.33 during mid-day trading on Tuesday, hitting $17.92. 43,500 shares of the company’s stock were exchanged, compared to its average volume of 83,142. The company has a market capitalization of $465.47 million, a price-to-earnings ratio of 10.54 and a beta of 1.21. Blue Bird has a fifty-two week low of $15.67 and a fifty-two week high of $26.95.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, February 6th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.07. The firm had revenue of $154.93 million during the quarter, compared to the consensus estimate of $157.20 million. Blue Bird had a net margin of 3.68% and a negative return on equity of 70.66%. As a group, sell-side analysts forecast that Blue Bird will post 1.58 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of BLBD. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Blue Bird during the 4th quarter worth approximately $26,000. Covington Capital Management purchased a new position in shares of Blue Bird during the 4th quarter worth approximately $63,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Blue Bird by 285.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,287 shares of the company’s stock worth $78,000 after purchasing an additional 3,175 shares in the last quarter. Bank of America Corp DE grew its stake in Blue Bird by 95.3% in the 4th quarter. Bank of America Corp DE now owns 8,834 shares of the company’s stock worth $160,000 after acquiring an additional 4,311 shares during the period. Finally, Lincoln Capital Corp purchased a new stake in Blue Bird in the 4th quarter worth approximately $217,000. Institutional investors own 96.06% 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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