Blue Bird (NASDAQ:BLBD) announced its quarterly earnings data on Wednesday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.07, Morningstar.com reports. Blue Bird had a negative return on equity of 70.66% and a net margin of 3.68%. The firm had revenue of $154.93 million during the quarter, compared to the consensus estimate of $157.20 million. Blue Bird updated its FY 2019 guidance to EPS.
Shares of BLBD stock opened at $19.00 on Friday. Blue Bird has a twelve month low of $15.67 and a twelve month high of $26.95. The company has a market capitalization of $514.28 million, a P/E ratio of 11.27 and a beta of 1.28.
Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Blue Bird by 19.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,926 shares of the company’s stock valued at $1,697,000 after purchasing an additional 12,452 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Blue Bird by 163.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 53,295 shares of the company’s stock worth $1,192,000 after acquiring an additional 33,095 shares in the last quarter. BlackRock Inc. lifted its stake in Blue Bird by 42.4% in the 2nd quarter. BlackRock Inc. now owns 775,397 shares of the company’s stock worth $17,330,000 after acquiring an additional 230,846 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Blue Bird by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 147,108 shares of the company’s stock worth $3,288,000 after acquiring an additional 17,012 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Blue Bird by 16.1% in the 2nd quarter. California Public Employees Retirement System now owns 17,420 shares of the company’s stock worth $389,000 after acquiring an additional 2,420 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on BLBD shares. BidaskClub raised Blue Bird from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. Roth Capital reissued a “buy” rating and issued a $22.00 price objective on shares of Blue Bird in a research note on Tuesday, December 4th.
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About Blue Bird
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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