Asset Management One Co. Ltd. Reduces Stock Position in Blue Bird Corporation (NASDAQ:BLBD)

Asset Management One Co. Ltd. decreased its position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,905 shares of the company's stock after selling 17,648 shares during the quarter. Asset Management One Co. Ltd. owned 0.39% of Blue Bird worth $4,011,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Blue Bird by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,426,912 shares of the company's stock worth $93,752,000 after purchasing an additional 25,745 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in Blue Bird by 36.5% in the 1st quarter. Insight Wealth Strategies LLC now owns 81,379 shares of the company's stock worth $2,634,000 after acquiring an additional 21,769 shares during the period. Wellington Management Group LLP lifted its stake in shares of Blue Bird by 13.6% during the 4th quarter. Wellington Management Group LLP now owns 1,335,122 shares of the company's stock worth $51,576,000 after purchasing an additional 160,248 shares during the period. Ruffer LLP acquired a new stake in shares of Blue Bird during the fourth quarter worth $2,790,000. Finally, Wedge Capital Management L L P NC increased its stake in Blue Bird by 21.1% in the first quarter. Wedge Capital Management L L P NC now owns 41,230 shares of the company's stock valued at $1,335,000 after purchasing an additional 7,180 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Price Performance

BLBD opened at $43.12 on Monday. Blue Bird Corporation has a 52-week low of $30.04 and a 52-week high of $55.60. The company has a 50 day moving average of $39.33 and a two-hundred day moving average of $37.60. The company has a market cap of $1.36 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.07 and a beta of 1.40. The company has a quick ratio of 0.73, a current ratio of 1.45 and a debt-to-equity ratio of 0.46.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Blue Bird had a net margin of 7.97% and a return on equity of 64.83%. The firm had revenue of $358.85 million during the quarter, compared to analysts' expectations of $348.23 million. During the same period in the prior year, the company earned $0.89 EPS. The firm's revenue was up 3.7% on a year-over-year basis. On average, analysts expect that Blue Bird Corporation will post 3.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. DA Davidson lowered their price target on Blue Bird from $67.00 to $61.00 and set a "buy" rating for the company in a report on Monday, April 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 price target on shares of Blue Bird in a research report on Tuesday, May 27th. Wall Street Zen cut shares of Blue Bird from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Barclays cut their target price on Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $56.79.

Insider Buying and Selling

In related news, Director Phil Horlock sold 13,289 shares of Blue Bird stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $41.70, for a total transaction of $554,151.30. Following the sale, the director now owns 270,766 shares of the company's stock, valued at $11,290,942.20. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.

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