Deutsche Bank AG Has $2.31 Million Stake in Blue Bird Corporation $BLBD

Key Points

• Deutsche Bank AG has reduced its stake in Blue Bird Corporation by 30.1%, now holding 71,397 shares valued at $2.31 million.
• Several institutional investors have significantly increased their stakes in Blue Bird, including Westwood Holdings Group and First Trust Advisors, indicating strong institutional interest in the stock.
• Wall Street analysts have upgraded Blue Bird's rating, with multiple firms rating it as a "strong-buy" and predicting an average target price of $57.36.

Deutsche Bank AG decreased its holdings in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) by 30.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,397 shares of the company's stock after selling 30,796 shares during the quarter. Deutsche Bank AG owned 0.22% of Blue Bird worth $2,311,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Westwood Holdings Group Inc. raised its stake in Blue Bird by 24.3% during the first quarter. Westwood Holdings Group Inc. now owns 2,402,214 shares of the company's stock worth $77,760,000 after acquiring an additional 468,936 shares in the last quarter. Wellington Management Group LLP raised its stake in Blue Bird by 13.6% during the fourth quarter. Wellington Management Group LLP now owns 1,335,122 shares of the company's stock worth $51,576,000 after acquiring an additional 160,248 shares in the last quarter. First Trust Advisors LP raised its stake in Blue Bird by 355.3% during the fourth quarter. First Trust Advisors LP now owns 883,404 shares of the company's stock worth $34,126,000 after acquiring an additional 689,394 shares in the last quarter. Bank of America Corp DE raised its stake in Blue Bird by 66.5% during the fourth quarter. Bank of America Corp DE now owns 782,466 shares of the company's stock worth $30,227,000 after acquiring an additional 312,493 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Blue Bird by 236.7% during the fourth quarter. Millennium Management LLC now owns 774,175 shares of the company's stock worth $29,906,000 after acquiring an additional 544,248 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLBD shares. Wall Street Zen upgraded Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Barclays reduced their price target on Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Needham & Company LLC boosted their price target on Blue Bird from $49.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.36.

Insider Activity at Blue Bird

In related news, CFO Razvan Radulescu sold 700 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $60.02, for a total value of $42,014.00. Following the sale, the chief financial officer directly owned 47,503 shares in the company, valued at $2,851,130.06. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Phil Horlock sold 21,129 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $58.16, for a total value of $1,228,862.64. Following the transaction, the director owned 240,766 shares in the company, valued at $14,002,950.56. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,832 shares of company stock worth $7,559,425 over the last ninety days. Insiders own 1.10% of the company's stock.

Blue Bird Stock Performance

Shares of BLBD stock opened at $55.22 on Thursday. The business's 50 day simple moving average is $46.21 and its 200 day simple moving average is $39.55. Blue Bird Corporation has a one year low of $30.04 and a one year high of $60.45. The stock has a market capitalization of $1.75 billion, a PE ratio of 15.78, a PEG ratio of 1.67 and a beta of 1.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 0.92.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.19 EPS 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 business had revenue of $398.01 million for the quarter, compared to analysts' expectations of $377.64 million. During the same period in the prior year, the business posted $0.91 earnings per share. The firm's revenue was up 19.4% on a year-over-year basis. As a group, research analysts forecast that Blue Bird Corporation will post 3.86 earnings per share for the current 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.

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