Thoroughbred Financial Services LLC Takes $510,000 Position in Blue Bird Co. (NASDAQ:BLBD)

Thoroughbred Financial Services LLC acquired a new stake in shares of Blue Bird Co. (NASDAQ:BLBD) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,477 shares of the company’s stock, valued at approximately $510,000.

A number of other large investors have also made changes to their positions in the stock. Covestor Ltd bought a new position in Blue Bird during the first quarter worth about $29,000. Macroview Investment Management LLC bought a new position in Blue Bird in the 2nd quarter valued at $29,000. Meeder Asset Management Inc. bought a new position in Blue Bird in the 2nd quarter valued at $81,000. Victory Capital Management Inc. bought a new position in Blue Bird in the 4th quarter valued at $89,000. Finally, Virtus Investment Advisers Inc. bought a new position in Blue Bird in the 1st quarter valued at $120,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Blue Bird in a research report on Tuesday, September 10th. Barclays boosted their target price on Blue Bird from $43.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research report on Monday. DA Davidson boosted their target price on Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Bank of America boosted their target price on Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $61.17.

Insider Buying and Selling at Blue Bird

In other news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the transaction, the president now directly owns 80,617 shares of the company’s stock, valued at $4,015,532.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Phil Horlock sold 32,159 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the completion of the transaction, the chief executive officer now directly owns 299,812 shares of the company’s stock, valued at $14,669,801.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Britton Smith sold 2,508 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total value of $124,923.48. Following the transaction, the president now directly owns 80,617 shares in the company, valued at approximately $4,015,532.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,240 shares of company stock valued at $2,960,546. Company insiders own 2.10% of the company’s stock.

Blue Bird Stock Down 0.1 %

NASDAQ:BLBD opened at $50.19 on Tuesday. Blue Bird Co. has a 1 year low of $17.59 and a 1 year high of $59.40. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 0.25 and a beta of 1.61. The stock has a 50-day moving average price of $49.13 and a two-hundred day moving average price of $45.66.

Blue Bird (NASDAQ:BLBD) last posted its earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. The firm had revenue of $333.37 million during the quarter, compared to analysts’ expectations of $330.00 million. During the same period in the previous year, the firm earned $0.42 earnings per share. As a group, equities analysts expect that Blue Bird Co. will post 3.22 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.