Blue Bird Corporation $BLBD Stock Purchased by Deroy & Devereaux Private Investment Counsel Inc.

Key Points

• Deroy & Devereaux increased its Blue Bird stake by 22.3% in the third quarter, bringing its holdings to 739,478 shares worth approximately $41.0 million. Institutional investors collectively own 93.59% of the company.
• Blue Bird’s latest quarterly results exceeded expectations, with EPS of $1.28 versus the $1.25 consensus and revenue of $517.16 million compared with $485.73 million expected.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $85.33, although COO Jeffrey Sanfrey sold 4,000 shares at $62.40 each.

Deroy & Devereaux Private Investment Counsel Inc. increased its position in Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 22.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 739,478 shares of the company's stock after buying an additional 134,881 shares during the period. Blue Bird accounts for about 1.8% of Deroy & Devereaux Private Investment Counsel Inc.'s investment portfolio, making the stock its 11th biggest position. Deroy & Devereaux Private Investment Counsel Inc. owned about 2.36% of Blue Bird worth $41,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kilter Group LLC bought a new stake in Blue Bird in the 2nd quarter worth approximately $25,000. Rockefeller Capital Management L.P. grew its holdings in shares of Blue Bird by 210.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company's stock valued at $36,000 after purchasing an additional 525 shares in the last quarter. Nykredit A S purchased a new position in shares of Blue Bird in the second quarter valued at $36,000. Dunhill Financial LLC bought a new stake in Blue Bird in the second quarter worth $39,000. Finally, GAMMA Investing LLC increased its position in Blue Bird by 85.5% in the second quarter. GAMMA Investing LLC now owns 629 shares of the company's stock worth $50,000 after purchasing an additional 290 shares during the last quarter. 93.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Jeffrey Sanfrey sold 4,000 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total value of $249,600.00. Following the transaction, the chief operating officer directly owned 35,011 shares of the company's stock, valued at approximately $2,184,686.40. This represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Blue Bird Stock Up 0.5%

Blue Bird stock opened at $58.04 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 7.06, a PEG ratio of 0.84 and a beta of 1.37. The business has a fifty day moving average price of $59.21 and a 200-day moving average price of $62.82. Blue Bird Corporation has a 1-year low of $46.14 and a 1-year high of $83.39.

Blue Bird (NASDAQ:BLBD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. The firm had revenue of $517.16 million for the quarter, compared to the consensus estimate of $485.73 million. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. Equities research analysts forecast that Blue Bird Corporation will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on BLBD shares. Freedom Capital upgraded shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Needham & Company LLC restated a "buy" rating and set a $86.00 target price on shares of Blue Bird in a research report on Thursday, August 6th. Barclays boosted their price objective on shares of Blue Bird from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Wall Street Zen cut Blue Bird from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Finally, Roth Capital set a $93.00 target price on shares of Blue Bird in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Blue Bird Profile

Blue Bird Corporation NASDAQ: BLBD designs, manufactures, and sells school buses in North America. Its product portfolio includes Type A, Type C, and Type D school buses powered by gasoline, diesel, propane, and electric powertrains. The company also provides replacement parts and aftermarket support for its vehicles.

Founded in 1927, Blue Bird is one of the longstanding manufacturers in the school bus industry. Its buses are used by public and private schools, school districts, contractors, and other student transportation providers.

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