MACON, Ga. - Blue Bird (NASDAQ:BLBD) Corporation (NASDAQ:BLBD), a prominent manufacturer of electric and low-emission school buses, has announced a significant upgrade in safety features for its vehicles, marking a substantial advancement in the protection of school children and bus drivers. Starting in the fall of 2024, the company will equip new school buses with an array of safety systems, including three-point seat belts for all student passengers and a steering wheel deployed air bag for drivers.
In collaboration with IMMI, a leader in advanced safety systems, Blue Bird will be the first school bus builder to standardize these features. The safety overhaul also includes the addition of high-intensity LED lighting, high-resolution cameras, and enhanced visibility elements such as lighted stop arms and strobe lights. Furthermore, Blue Bird will incorporate collision mitigation systems alongside the already standard electronic stability control.
Britton Smith, president of Blue Bird Corporation, emphasized the company's commitment to safety, stating, "For nearly a century, our children’s safety has been our business." He expressed pride in carrying "millions of school children every year" and highlighted the company's aim to set a new standard for student transportation safety.
Larry Gray, CEO of IMMI, praised the partnership with Blue Bird, acknowledging the role of school buses in transporting the nation's future and applauding Blue Bird's leadership in adopting lap-shoulder belts and driver protection innovations.
These enhancements are set to improve the safety of the approximately 480,000 school buses that operate across the United States, which transport more than 25 million children and over 175,000 drivers every weekday. This initiative by Blue Bird, a company with a history dating back to 1927 and a workforce of around 2,000, underscores its position as a U.S.-owned and operated school bus manufacturer committed to advancing student transportation.
The information for this report is based on a press release statement.
In other recent news, Blue Bird Corporation has seen several significant developments. Analysts from Craig-Hallum and DA Davidson have raised their price targets on Blue Bird shares, reflecting the company's strong financial performance and market position, particularly in the electric school bus segment. Craig-Hallum has raised its target from $54.00 to $65.00, while DA Davidson has increased its target to $66 from $44. Both firms maintain a Buy rating on the company's shares.
In addition, Barclays has maintained its Overweight rating on Blue Bird, highlighting the expansion of the company's Total Addressable Market due to its step van offering. Blue Bird has also negotiated a three-year collective bargaining agreement with the United Steelworkers union, enhancing employee offerings and reinforcing its reputation as a preferred employer in the industry.
In terms of leadership, Blue Bird has announced strategic changes to its Sales and Marketing division, promoting Tim Gordon to Senior Vice President of Sales and Marketing, Albert Burleigh to Vice President of North America Bus Sales, and Jenna Van Harpen to Vice President of National Fleet Sales.
InvestingPro Insights
Blue Bird Corporation (NASDAQ:BLBD) has not only been making strides in advancing safety in student transportation but also showing promising financial metrics that could interest investors. The company's market capitalization stands at a solid $1.84 billion, reflecting investor confidence in its business model and future prospects.
An important aspect to consider is the company's net income, which is expected to grow this year, according to an InvestingPro Tip. This is a crucial indicator of the company's profitability and could be a result of increased sales or improved operational efficiency. Additionally, Blue Bird's revenue has seen a significant increase, with a 26.17% growth in the last twelve months as of Q2 2024, and a quarterly growth of 15.38% in Q2 2024, indicating a robust expansion in its financial performance.
Investors should note that the company's stock has experienced strong returns, with an impressive 162.53% one-year price total return as of mid-2024. This could be an indicator of the market's positive reaction to the company's strategic initiatives and its potential for continued growth. Moreover, four analysts have revised their earnings upwards for the upcoming period, suggesting a consensus view that Blue Bird's financial outlook is improving.
For those seeking more in-depth analysis and additional InvestingPro Tips, Blue Bird Corporation has 14 more tips available on their InvestingPro page (https://www.investing.com/pro/BLBD). These tips could provide valuable insights for investors looking to make informed decisions about the company's stock. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further financial metrics and expert commentary.
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