Millennium Management LLC Has $29.91 Million Stock Holdings in Blue Bird Co. (NASDAQ:BLBD)

Millennium Management LLC increased its stake in Blue Bird Co. (NASDAQ:BLBD - Free Report) by 236.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 774,175 shares of the company's stock after acquiring an additional 544,248 shares during the quarter. Millennium Management LLC owned approximately 2.41% of Blue Bird worth $29,906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its stake in Blue Bird by 976.5% in the 3rd quarter. Barclays PLC now owns 128,658 shares of the company's stock worth $6,171,000 after purchasing an additional 116,707 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Blue Bird by 29.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 34,050 shares of the company's stock worth $1,315,000 after acquiring an additional 7,772 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Blue Bird during the fourth quarter valued at approximately $262,000. Whalen Wealth Management Inc. purchased a new stake in shares of Blue Bird in the 4th quarter valued at approximately $315,000. Finally, Inspire Investing LLC boosted its stake in Blue Bird by 20.7% in the 4th quarter. Inspire Investing LLC now owns 10,394 shares of the company's stock worth $402,000 after purchasing an additional 1,786 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on BLBD shares. Barclays cut their target price on shares of Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC reduced their price objective on Blue Bird from $66.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. DA Davidson lowered their target price on Blue Bird from $67.00 to $61.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Finally, StockNews.com lowered shares of Blue Bird from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.79.

Blue Bird Stock Down 4.0%

Shares of Blue Bird stock traded down $1.62 during trading on Wednesday, hitting $39.20. 344,302 shares of the stock traded hands, compared to its average volume of 643,421. The company has a fifty day moving average price of $35.40 and a two-hundred day moving average price of $37.62. Blue Bird Co. has a twelve month low of $30.04 and a twelve month high of $59.40. The stock has a market cap of $1.24 billion, a P/E ratio of 12.14, a PEG ratio of 0.84 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 1.44.

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

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.