Blue Bird (BLBD) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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Blue Bird (NASDAQ:BLBD) announced its earnings results on Thursday. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04, Fidelity Earnings reports. Blue Bird had a net margin of 3.01% and a negative return on equity of 52.45%. The firm had revenue of $331.61 million for the quarter, compared to the consensus estimate of $322.70 million.

Shares of NASDAQ:BLBD opened at $18.08 on Friday. Blue Bird has a 52 week low of $15.66 and a 52 week high of $26.95. The company has a market capitalization of $502.87 million, a price-to-earnings ratio of 11.77 and a beta of 1.47.

Several equities research analysts recently weighed in on BLBD shares. Roth Capital reaffirmed a “buy” rating and set a $22.00 target price on shares of Blue Bird in a research note on Tuesday. BidaskClub raised shares of Blue Bird from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, ValuEngine downgraded shares of Blue Bird from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th.

In other Blue Bird news, major shareholder Asp Bb Holdings Llc sold 969,850 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $28.00, for a total value of $27,155,800.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 16.70% of the company’s stock.

Several large investors have recently made changes to their positions in the business. California Public Employees Retirement System increased its position in shares of Blue Bird by 16.1% in the 2nd quarter. California Public Employees Retirement System now owns 17,420 shares of the company’s stock valued at $389,000 after purchasing an additional 2,420 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Blue Bird by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 149,808 shares of the company’s stock valued at $3,670,000 after purchasing an additional 2,700 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in shares of Blue Bird by 12.0% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 28,702 shares of the company’s stock valued at $703,000 after purchasing an additional 3,082 shares during the last quarter. MetLife Investment Advisors LLC increased its position in shares of Blue Bird by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 8,926 shares of the company’s stock valued at $219,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Blue Bird by 12.7% in the 3rd quarter. Teachers Advisors LLC now owns 29,921 shares of the company’s stock valued at $733,000 after purchasing an additional 3,383 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.

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Blue Bird Company Profile

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and aftermarket parts in the United States, Canada, and internationally. The company operates through two segments, Buses and Aftermarket Parts. It offers Type C, Type D, and specialty buses, as well as Sigma, a bus for public transportation.

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Earnings History for Blue Bird (NASDAQ:BLBD)

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