Blue Bird (NASDAQ:BLBD) Stock Price Down 4.3% – Here’s Why

Blue Bird Co. (NASDAQ:BLBD)’s share price dropped 4.3% during trading on Thursday . The stock traded as low as $37.86 and last traded at $39.39. Approximately 661,614 shares were traded during trading, an increase of 9% from the average daily volume of 605,409 shares. The stock had previously closed at $41.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BLBD shares. BTIG Research started coverage on shares of Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of Blue Bird in a report on Tuesday, January 14th. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Thursday, October 3rd. Bank of America decreased their price target on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Blue Bird presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Price Performance

The stock’s 50-day moving average price is $40.58 and its 200 day moving average price is $44.95. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. Blue Bird had a net margin of 7.83% and a return on equity of 91.12%. Equities research analysts predict that Blue Bird Co. will post 3.77 earnings per share for the current year.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total transaction of $822,244.19. Following the sale, the chief financial officer now directly owns 89,347 shares of the company’s stock, valued at approximately $3,832,092.83. This represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

Several large investors have recently added to or reduced their stakes in BLBD. National Bank of Canada FI bought a new stake in shares of Blue Bird during the third quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Blue Bird during the third quarter valued at approximately $35,000. Private Trust Co. NA bought a new stake in shares of Blue Bird during the third quarter valued at approximately $38,000. nVerses Capital LLC bought a new stake in shares of Blue Bird during the third quarter valued at approximately $53,000. Finally, KBC Group NV grew its stake in shares of Blue Bird by 75.3% during the fourth quarter. KBC Group NV now owns 1,420 shares of the company’s stock valued at $55,000 after purchasing an additional 610 shares during the last quarter. 93.59% of the stock is owned by institutional investors.

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.