Public Employees Retirement System of Ohio Acquires New Stake in Blue Bird Corporation $BLBD

Public Employees Retirement System of Ohio purchased a new position in shares of Blue Bird Corporation (NASDAQ:BLBD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 38,972 shares of the company’s stock, valued at approximately $3,077,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Blue Bird by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company’s stock worth $618,000 after purchasing an additional 820 shares in the last quarter. NewEdge Advisors LLC lifted its position in Blue Bird by 30.9% during the first quarter. NewEdge Advisors LLC now owns 2,885 shares of the company’s stock valued at $93,000 after purchasing an additional 681 shares during the last quarter. Jones Financial Companies Lllp grew its position in Blue Bird by 2,090.5% in the first quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company’s stock worth $112,000 after acquiring an additional 3,303 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Blue Bird by 12.5% during the second quarter. New York State Common Retirement Fund now owns 12,676 shares of the company’s stock worth $547,000 after purchasing an additional 1,412 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Blue Bird in the 2nd quarter worth about $3,799,000. Institutional investors own 93.59% of the company’s stock.

Blue Bird Trading Down 0.0%

NASDAQ:BLBD opened at $63.63 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.83 and a beta of 1.36. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average price is $70.77 and its 200-day moving average price is $66.29. Blue Bird Corporation has a 52 week low of $46.14 and a 52 week high of $83.39.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. DA Davidson lifted their price target on shares of Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Freedom Capital raised Blue Bird from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. BTIG Research boosted their price objective on Blue Bird from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Barclays boosted their target price on Blue Bird from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $86.00 price target on shares of Blue Bird in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $85.33.

About Blue Bird

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.