Price T Rowe Associates Inc. MD trimmed its holdings in Blue Bird Co. (NASDAQ:BLBD - Free Report) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,049 shares of the company's stock after selling 12,269 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.18% of Blue Bird worth $2,227,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in Blue Bird in the first quarter worth approximately $29,000. CWM LLC lifted its position in Blue Bird by 220.1% in the fourth quarter. CWM LLC now owns 1,290 shares of the company's stock worth $35,000 after purchasing an additional 887 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Blue Bird in the fourth quarter worth approximately $66,000. Victory Capital Management Inc. acquired a new stake in shares of Blue Bird during the 4th quarter valued at $89,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Blue Bird during the 1st quarter valued at $145,000. 93.59% of the stock is owned by institutional investors.
Blue Bird Stock Up 0.3 %
Shares of NASDAQ BLBD traded up $0.13 during mid-day trading on Thursday, reaching $48.58. The company had a trading volume of 1,345,710 shares, compared to its average volume of 570,546. Blue Bird Co. has a twelve month low of $17.59 and a twelve month high of $59.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 1.23. The stock has a market capitalization of $1.57 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.37 and a beta of 1.63. The stock's 50 day moving average is $52.29 and its 200-day moving average is $42.06.
Blue Bird (NASDAQ:BLBD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.42. Blue Bird had a net margin of 6.36% and a return on equity of 154.10%. The business had revenue of $333.37 million for the quarter, compared to the consensus estimate of $330.00 million. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, equities analysts anticipate that Blue Bird Co. will post 2.71 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on BLBD shares. Roth Mkm increased their price objective on Blue Bird from $40.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $65.00 price objective (up previously from $52.00) on shares of Blue Bird in a research report on Wednesday, July 17th. Bank of America increased their price objective on Blue Bird from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday. DA Davidson boosted their target price on shares of Blue Bird from $44.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, May 20th. Finally, Craig Hallum boosted their target price on shares of Blue Bird from $54.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 24th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $58.00.
Check Out Our Latest Stock Analysis on BLBD
Insider Transactions at Blue Bird
In other news, CFO Razvan Radulescu sold 5,000 shares of the company's stock in a transaction on Friday, July 5th. The shares were sold at an average price of $47.08, for a total value of $235,400.00. Following the transaction, the chief financial officer now directly owns 88,926 shares of the company's stock, valued at $4,186,636.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by company insiders.
About Blue Bird
(Free Report)
Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.
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