Blue Bird (NASDAQ:BLBD) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday, BidAskClub reports.

Several other research firms have also recently commented on BLBD. Roth Capital started coverage on shares of Blue Bird in a research note on Thursday, October 10th. They set a “buy” rating and a $23.00 price target on the stock. Zacks Investment Research raised shares of Blue Bird from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, December 17th. Finally, ValuEngine upgraded shares of Blue Bird from a “sell” rating to a “hold” rating in a report on Monday, December 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.00.

Shares of BLBD traded down $0.57 during mid-day trading on Wednesday, hitting $20.03. 51,192 shares of the company traded hands, compared to its average volume of 111,077. Blue Bird has a one year low of $16.37 and a one year high of $23.99. The business has a 50-day moving average of $22.05 and a 200 day moving average of $19.93. The stock has a market capitalization of $545.49 million, a price-to-earnings ratio of 22.26 and a beta of 1.05.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.03). Blue Bird had a net margin of 2.38% and a negative return on equity of 56.27%. The company had revenue of $343.53 million for the quarter, compared to the consensus estimate of $332.50 million. As a group, analysts anticipate that Blue Bird will post 1.9 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its holdings in Blue Bird by 19.4% in the third quarter. California Public Employees Retirement System now owns 19,532 shares of the company’s stock valued at $372,000 after buying an additional 3,172 shares during the period. Zebra Capital Management LLC acquired a new position in Blue Bird in the third quarter valued at approximately $225,000. Rhumbline Advisers lifted its holdings in Blue Bird by 5.3% in the third quarter. Rhumbline Advisers now owns 21,058 shares of the company’s stock valued at $401,000 after buying an additional 1,066 shares during the period. State Street Corp lifted its holdings in Blue Bird by 0.9% in the third quarter. State Street Corp now owns 262,254 shares of the company’s stock valued at $4,992,000 after buying an additional 2,235 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Blue Bird in the fourth quarter valued at approximately $2,793,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

Blue Bird Company Profile

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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