Blair William & Co. IL Has $14.11 Million Stock Position in Blue Bird Corporation $BLBD

Key Points

• Blair William & Co. IL has decreased its stake in Blue Bird Corporation by 3.4%, owning 326,935 shares worth approximately $14.11 million.
• Blue Bird's shares recently received mixed ratings from analysts, with Zacks reducing its rating to "hold," while BTIG raised the price target to $65 with a "buy" rating.
• In the last quarter, Blue Bird reported a 19.4% year-over-year revenue increase to $398.01 million, exceeding analyst expectations.

Blair William & Co. IL lessened its holdings in Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 326,935 shares of the company's stock after selling 11,578 shares during the quarter. Blair William & Co. IL owned 1.04% of Blue Bird worth $14,111,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. CWM LLC boosted its stake in Blue Bird by 9.3% in the first quarter. CWM LLC now owns 3,771 shares of the company's stock valued at $122,000 after buying an additional 322 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Blue Bird by 30.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,885 shares of the company's stock valued at $93,000 after purchasing an additional 681 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Blue Bird by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 50,308 shares of the company's stock valued at $1,628,000 after purchasing an additional 695 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Blue Bird by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,094 shares of the company's stock worth $618,000 after purchasing an additional 820 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in Blue Bird by 7.2% in the 1st quarter. Townsquare Capital LLC now owns 12,597 shares of the company's stock valued at $408,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLBD. Zacks Research cut shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. BTIG Research boosted their price objective on Blue Bird from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Needham & Company LLC increased their target price on Blue Bird from $49.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Blue Bird from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Blue Bird presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.58.

Blue Bird Stock Down 1.1%

Shares of NASDAQ:BLBD opened at $54.84 on Friday. The firm has a market cap of $1.74 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.52 and a beta of 1.64. Blue Bird Corporation has a 12-month low of $30.04 and a 12-month high of $61.95. The business has a fifty day simple moving average of $56.19 and a 200 day simple moving average of $45.19. The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 0.39.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.29. Blue Bird had a return on equity of 61.66% and a net margin of 8.16%.The company had revenue of $398.01 million during the quarter, compared to analysts' expectations of $377.64 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business's quarterly revenue was up 19.4% on a year-over-year basis. Analysts predict that Blue Bird Corporation will post 3.86 earnings per share for the current year.

Insider Transactions at Blue Bird

In other news, Director Phil Horlock sold 30,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $60.00, for a total value of $1,800,000.00. Following the sale, the director directly owned 240,766 shares of the company's stock, valued at approximately $14,445,960. This represents a 11.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Razvan Radulescu sold 10,000 shares of Blue Bird stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $53.21, for a total transaction of $532,100.00. Following the transaction, the chief financial officer directly owned 48,203 shares of the company's stock, valued at $2,564,881.63. This represents a 17.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,392 shares of company stock worth $7,342,183. Company insiders own 1.10% of the company's stock.

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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