Meeder Asset Management Inc. Takes $1.22 Million Position in Blue Bird Corporation $BLBD

Meeder Asset Management Inc. bought a new position in Blue Bird Corporation (NASDAQ:BLBD) during the second quarter, Holdings Channel reports. The fund bought 15,470 shares of the company’s stock, valued at approximately $1,222,000.

Several other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Blue Bird by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company’s stock worth $618,000 after acquiring an additional 820 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of 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 boosted its position in shares of Blue Bird by 2,090.5% in the 1st quarter. Jones Financial Companies Lllp now owns 3,461 shares of the company’s stock worth $112,000 after purchasing an additional 3,303 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Blue Bird by 12.5% in the 2nd 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 in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Blue Bird in the 2nd quarter worth approximately $3,799,000. 93.59% of the stock is currently owned by institutional investors.

Blue Bird Trading Down 3.8%

NASDAQ:BLBD opened at $61.46 on Wednesday. The company’s 50 day moving average price is $74.20 and its 200-day moving average price is $65.79. Blue Bird Corporation has a 52 week low of $46.14 and a 52 week 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. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.84 and a beta of 1.36.

Blue Bird (NASDAQ:BLBD) last announced 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. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The company had revenue of $517.16 million during the quarter, compared to the consensus estimate 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.

Wall Street Analysts Forecast Growth

BLBD has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $86.00 price objective on shares of Blue Bird in a research report on Thursday, August 6th. BTIG Research boosted their target price on Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen cut Blue Bird from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Barclays lifted their price target on Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Finally, Freedom Capital upgraded shares of Blue Bird from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $85.33.

Blue Bird Company 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.