Balyasny Asset Management L.P. Raises Stake in Blue Bird Co. (NASDAQ:BLBD)

Balyasny Asset Management L.P. lifted its position in Blue Bird Co. (NASDAQ:BLBD - Free Report) by 46.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,596 shares of the company's stock after buying an additional 14,853 shares during the period. Balyasny Asset Management L.P. owned approximately 0.15% of Blue Bird worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its position in Blue Bird by 66.5% in the fourth quarter. Bank of America Corp DE now owns 782,466 shares of the company's stock worth $30,227,000 after purchasing an additional 312,493 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Blue Bird by 31.0% in the 4th quarter. BNP Paribas Financial Markets now owns 195,575 shares of the company's stock worth $7,555,000 after purchasing an additional 46,237 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Blue Bird by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,173 shares of the company's stock worth $1,745,000 after buying an additional 3,142 shares during the last quarter. Comerica Bank grew its position in Blue Bird by 17.9% during the fourth quarter. Comerica Bank now owns 13,242 shares of the company's stock valued at $512,000 after buying an additional 2,011 shares during the period. Finally, PDT Partners LLC purchased a new stake in Blue Bird during the fourth quarter valued at approximately $2,309,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Blue Bird Price Performance

Shares of Blue Bird stock traded up $0.46 during trading hours on Friday, reaching $40.82. The company's stock had a trading volume of 331,540 shares, compared to its average volume of 648,723. The firm has a 50 day moving average price of $34.99 and a 200-day moving average price of $37.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.44 and a quick ratio of 0.73. The stock has a market cap of $1.31 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.84 and a beta of 1.43. Blue Bird Co. has a one year low of $30.04 and a one year high of $59.40.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $358.85 million during the quarter, compared to the consensus estimate of $348.23 million. Blue Bird had a net margin of 8.05% and a return on equity of 75.22%. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. On average, analysts predict that Blue Bird Co. will post 3.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson decreased their price target on shares of Blue Bird from $67.00 to $61.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Barclays reduced their price objective on Blue Bird from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. StockNews.com lowered Blue Bird from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, Needham & Company LLC reduced their price target on Blue Bird from $66.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blue Bird presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.79.

Blue Bird Company Profile

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.