Inspire Investing LLC Lowers Stock Position in Blue Bird Co. (NASDAQ:BLBD)

Inspire Investing LLC lessened its holdings in Blue Bird Co. (NASDAQ:BLBD) by 29.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,584 shares of the company’s stock after selling 2,771 shares during the period. Inspire Investing LLC’s holdings in Blue Bird were worth $355,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BLBD. Victory Capital Management Inc. bought a new position in shares of Blue Bird during the 4th quarter worth approximately $89,000. Swiss National Bank raised its stake in shares of Blue Bird by 4.8% during the 4th quarter. Swiss National Bank now owns 47,600 shares of the company’s stock worth $1,283,000 after acquiring an additional 2,200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Blue Bird by 18.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 207,594 shares of the company’s stock worth $5,597,000 after acquiring an additional 32,334 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Blue Bird during the 4th quarter worth approximately $646,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of Blue Bird by 46.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 20,574 shares of the company’s stock worth $555,000 after acquiring an additional 6,532 shares in the last quarter. Institutional investors own 93.59% of the company’s stock.

Insider Transactions at Blue Bird

In other news, CEO Phil Horlock sold 32,159 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $48.93, for a total value of $1,573,539.87. Following the sale, the chief executive officer now owns 299,812 shares in the company, valued at $14,669,801.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Razvan Radulescu sold 5,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $47.08, for a total transaction of $235,400.00. Following the sale, the chief financial officer now directly owns 88,926 shares of the company’s stock, valued at $4,186,636.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phil Horlock sold 32,159 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 299,812 shares in the company, valued at $14,669,801.16. The disclosure for this sale can be found here. Insiders have sold 61,240 shares of company stock worth $2,960,546 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BLBD has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Blue Bird in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Bank of America upped their price target on shares of Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Barclays upped their price target on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, DA Davidson upped their price target on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $61.17.

Blue Bird Stock Up 2.2 %

NASDAQ:BLBD opened at $54.51 on Friday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 22.07, a PEG ratio of 0.25 and a beta of 1.61. Blue Bird Co. has a 1-year low of $17.59 and a 1-year high of $59.40. The company’s fifty day moving average price is $49.41 and its 200-day moving average price is $46.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 0.66.

Blue Bird (NASDAQ:BLBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.42. The firm had revenue of $333.37 million for the quarter, compared to analyst estimates of $330.00 million. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, equities research analysts anticipate that Blue Bird Co. will post 3.22 EPS for the current year.

About Blue Bird

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.