DA Davidson Analysts Increase Earnings Estimates for Blue Bird Co. (NASDAQ:BLBD)

Posted by Defense World Staff on May 4th, 2023

Blue Bird Co. (NASDAQ:BLBD – Get Rating) – Analysts at DA Davidson increased their Q2 2023 earnings per share estimates for Blue Bird in a research note issued on Monday, May 1st. DA Davidson analyst M. Shlisky now forecasts that the company will post earnings of $0.05 per share for the quarter, up from their prior estimate of $0.02. DA Davidson has a “Buy” rating and a $23.00 price objective on the stock. The consensus estimate for Blue Bird’s current full-year earnings is $0.25 per share. DA Davidson also issued estimates for Blue Bird’s FY2023 earnings at $0.14 EPS and FY2024 earnings at $1.22 EPS.

Several other equities research analysts also recently weighed in on BLBD. Craig Hallum upped their target price on Blue Bird from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. StockNews.com began coverage on Blue Bird in a research report on Thursday, March 16th. They issued a “hold” rating for the company.

Blue Bird Price Performance

Shares of NASDAQ BLBD opened at $19.27 on Wednesday. Blue Bird has a 1-year low of $7.14 and a 1-year high of $23.13. The business has a 50-day moving average of $19.69 and a 200-day moving average of $15.02. The company has a debt-to-equity ratio of 109.96, a current ratio of 0.86 and a quick ratio of 0.16. The company has a market capitalization of $617.22 million, a price-to-earnings ratio of -11.68 and a beta of 1.36.

Blue Bird (NASDAQ:BLBD – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Blue Bird had a negative net margin of 5.84% and a negative return on equity of 442.21%. The firm had revenue of $235.73 million for the quarter, compared to analysts’ expectations of $200.00 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in Blue Bird by 395.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,356 shares of the company’s stock valued at $36,000 after purchasing an additional 3,476 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Blue Bird by 198.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,419 shares of the company’s stock worth $41,000 after acquiring an additional 2,939 shares in the last quarter. Barclays PLC grew its position in shares of Blue Bird by 325.8% in the 4th quarter. Barclays PLC now owns 4,692 shares of the company’s stock worth $51,000 after acquiring an additional 3,590 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Blue Bird in the 1st quarter worth approximately $109,000. Finally, UBS Group AG grew its position in shares of Blue Bird by 61.3% in the 4th quarter. UBS Group AG now owns 5,887 shares of the company’s stock worth $63,000 after acquiring an additional 2,237 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity at Blue Bird

In related news, Director Phil Horlock sold 14,749 shares of the stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $22.00, for a total value of $324,478.00. Following the completion of the transaction, the director now owns 409,854 shares of the company’s stock, valued at $9,016,788. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by company insiders.

About Blue Bird

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Blue Bird Corp. engages in the design and manufacture of school buses. It operates through the Bus and Parts business segments. The Bus segment includes the manufacturing and assembly of school buses to be sold to a variety of customers across the United States, Canada, and in international markets. The Parts segment provides routine maintenance, replacement of parts that are damaged in service, and replacement of parts that suffer from wear and tear.