Royal Bank of Canada Sells 10,082 Shares of Blue Bird Corporation $BLBD

Royal Bank of Canada decreased its position in shares of Blue Bird Corporation (NASDAQ:BLBD) by 29.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 23,742 shares of the company’s stock after selling 10,082 shares during the period. Royal Bank of Canada owned about 0.08% of Blue Bird worth $1,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLBD. Rockefeller Capital Management L.P. lifted its stake in shares of Blue Bird by 210.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company’s stock valued at $36,000 after purchasing an additional 525 shares during the period. Transamerica Financial Advisors LLC grew its stake in Blue Bird by 222.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 823 shares of the company’s stock worth $39,000 after purchasing an additional 568 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Blue Bird by 10,028.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 702 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Blue Bird in the fourth quarter worth $41,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Blue Bird in the fourth quarter worth $63,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Analysts Set New Price Targets

BLBD has been the subject of several recent research reports. DA Davidson raised their price objective on Blue Bird from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $86.00 target price on shares of Blue Bird in a research report on Thursday, August 6th. Barclays increased their price target on shares of Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Freedom Capital raised shares of Blue Bird from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Blue Bird from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $85.33.

Blue Bird Stock Down 1.9%

BLBD stock opened at $61.33 on Friday. The business has a 50 day moving average of $73.87 and a 200 day moving average of $65.96. The firm has a market cap of $1.94 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 0.81 and a beta of 1.36. Blue Bird Corporation has a twelve month low of $46.14 and a twelve month high of $83.39. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. The firm had revenue of $517.16 million during the quarter, compared to the consensus estimate of $485.73 million. Blue Bird had a return on equity of 39.97% and a net margin of 17.48%. On average, research analysts forecast that Blue Bird Corporation will post 4.68 EPS for the current fiscal year.

Blue Bird Profile

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.