Stifel Nicolaus upgraded shares of Blue Bird (NASDAQ:BLBD) from a hold rating to a buy rating in a research note released on Monday, Benzinga reports. Stifel Nicolaus currently has $23.00 price objective on the stock, up from their prior price objective of $21.00.

Several other equities analysts have also issued reports on BLBD. ValuEngine lowered Blue Bird from a hold rating to a sell rating in a research report on Friday, March 15th. BidaskClub lowered Blue Bird from a buy rating to a hold rating in a research report on Friday, March 1st.

BLBD opened at $18.49 on Monday. Blue Bird has a 1 year low of $15.67 and a 1 year high of $26.95. The company has a market cap of $493.93 million, a P/E ratio of 10.88 and a beta of 1.19.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Blue Bird had a negative return on equity of 78.39% and a net margin of 3.45%. The company had revenue of $211.64 million for the quarter, compared to the consensus estimate of $217.80 million. On average, analysts predict that Blue Bird will post 1.58 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLBD. Bank of New York Mellon Corp lifted its holdings in Blue Bird by 248.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 264,442 shares of the company’s stock worth $6,479,000 after buying an additional 188,516 shares during the period. Engine Capital Management LP lifted its holdings in Blue Bird by 2,293.1% in the 1st quarter. Engine Capital Management LP now owns 194,700 shares of the company’s stock worth $3,296,000 after buying an additional 186,564 shares during the period. BlackRock Inc. lifted its holdings in Blue Bird by 18.8% in the 3rd quarter. BlackRock Inc. now owns 921,375 shares of the company’s stock worth $22,573,000 after buying an additional 145,978 shares during the period. William Blair Investment Management LLC lifted its holdings in Blue Bird by 12.3% in the 1st quarter. William Blair Investment Management LLC now owns 1,302,024 shares of the company’s stock worth $22,043,000 after buying an additional 142,095 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Blue Bird by 74.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 305,138 shares of the company’s stock worth $5,166,000 after buying an additional 130,530 shares during the period. Institutional investors and hedge funds own 95.88% 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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