Blue Bird (NASDAQ:BLBD) Hits New 52-Week Low – Here’s Why

Shares of Blue Bird Co. (NASDAQ:BLBD) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $31.00 and last traded at $31.33, with a volume of 35229 shares. The stock had previously closed at $32.62.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLBD. Craig Hallum increased their price target on Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Bank of America reduced their target price on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a report on Tuesday, November 26th. Needham & Company LLC reduced their target price on Blue Bird from $66.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com raised 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.21.

Blue Bird Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.44 and a quick ratio of 0.73. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 0.84 and a beta of 1.56. The firm has a fifty day moving average of $38.08 and a 200 day moving average of $42.29.

Blue Bird (NASDAQ:BLBD) last posted its earnings results on Wednesday, February 5th. The company reported $0.86 EPS 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%. As a group, sell-side analysts forecast that Blue Bird Co. will post 3.86 EPS for the current year.

Insider Buying and Selling at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 2,848 shares of Blue Bird stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.12, for a total value of $108,565.76. Following the sale, the chief financial officer now owns 88,664 shares in the company, valued at $3,379,871.68. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Blue Bird

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new stake in shares of Blue Bird in the third quarter valued at $26,000. Truvestments Capital LLC acquired a new stake in shares of Blue Bird in the third quarter valued at $35,000. Private Trust Co. NA acquired a new stake in shares of Blue Bird in the third quarter valued at $38,000. Dunhill Financial LLC grew its stake 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 buying an additional 500 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Blue Bird by 55.0% in the fourth quarter. Quarry LP now owns 1,262 shares of the company’s stock valued at $49,000 after buying an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Blue Bird Company Profile

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.