Blue Bird (NASDAQ:BLBD) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Blue Bird from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 27th. Roth Capital reiterated a “buy” rating and issued a $22.00 target price on shares of Blue Bird in a research note on Tuesday, December 4th.

Shares of BLBD stock opened at $16.83 on Friday. The company has a market cap of $444.09 million, a P/E ratio of 9.90 and a beta of 1.23. Blue Bird has a 12 month low of $15.67 and a 12 month high of $26.95.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.07. Blue Bird had a net margin of 3.68% and a negative return on equity of 70.66%. The company had revenue of $154.93 million for the quarter, compared to analysts’ expectations of $157.20 million. As a group, research analysts predict that Blue Bird will post 1.58 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC lifted its stake in Blue Bird by 12.4% in the 3rd quarter. William Blair Investment Management LLC now owns 1,178,230 shares of the company’s stock worth $28,867,000 after purchasing an additional 130,363 shares in the last quarter. BlackRock Inc. lifted its stake in Blue Bird by 8.5% in the 4th quarter. BlackRock Inc. now owns 999,398 shares of the company’s stock worth $18,179,000 after purchasing an additional 78,023 shares in the last quarter. Vanguard Group Inc lifted its stake in Blue Bird by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 672,474 shares of the company’s stock worth $16,476,000 after purchasing an additional 11,537 shares in the last quarter. Vanguard Group Inc. lifted its stake in Blue Bird by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 672,474 shares of the company’s stock worth $16,476,000 after purchasing an additional 11,537 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Blue Bird by 3.6% in the 3rd quarter. Renaissance Technologies LLC now owns 435,800 shares of the company’s stock worth $10,677,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

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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