Blue Bird Corporation (NASDAQ:BLBD) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 40.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,150 shares of the company's stock after selling 19,436 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.09% of Blue Bird worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

BLBD has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 target price on shares of Blue Bird in a research report on Tuesday, May 27th. Barclays reduced 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. DA Davidson reduced their target price on Blue Bird from $67.00 to $61.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Finally, Wall Street Zen downgraded Blue Bird from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three equities research 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 an average rating of "Moderate Buy" and a consensus target price of $56.79.

Insider Transactions at Blue Bird

In other news, CFO Razvan Radulescu sold 10,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $45.19, for a total value of $451,900.00. Following the sale, the chief financial officer owned 58,203 shares in the company, valued at $2,630,193.57. This represents a 14.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phil Horlock sold 13,289 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $41.70, for a total value of $554,151.30. Following the completion of the transaction, the director directly owned 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 disclosure for this sale can be found here. Insiders sold 32,149 shares of company stock worth $1,369,666 in the last 90 days. Company insiders own 1.10% of the company's stock.

Blue Bird Stock Performance

Shares of BLBD traded up $0.38 during mid-day trading on Thursday, reaching $45.47. The company had a trading volume of 373,478 shares, compared to its average volume of 616,388. Blue Bird Corporation has a 52-week low of $30.04 and a 52-week high of $55.60. The company has a quick ratio of 0.73, a current ratio of 1.45 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.44 billion, a P/E ratio of 14.08, a PEG ratio of 1.13 and a beta of 1.41. The stock has a 50 day moving average of $40.91 and a two-hundred day moving average of $37.80.

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

Blue Bird 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.