Skandinaviska Enskilda Banken AB publ Sells 106,663 Shares of Blue Bird Co. (NASDAQ:BLBD)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Blue Bird Co. (NASDAQ:BLBD) by 39.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 162,805 shares of the company’s stock after selling 106,663 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.50% of Blue Bird worth $8,767,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLBD. Covestor Ltd purchased a new stake in Blue Bird in the 1st quarter worth approximately $29,000. Macroview Investment Management LLC purchased a new stake in Blue Bird in the 2nd quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new stake in Blue Bird in the 2nd quarter worth approximately $81,000. Victory Capital Management Inc. purchased a new stake in Blue Bird in the 4th quarter worth approximately $89,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Blue Bird in the 2nd quarter worth approximately $113,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Insider Activity at Blue Bird

In related news, President Britton Smith sold 2,508 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the transaction, the president now owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blue Bird news, President Britton Smith sold 2,508 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the sale, the president now owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 approximately $4,186,636.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,240 shares of company stock valued at $2,960,546. Insiders own 2.10% of the company’s stock.

Blue Bird Price Performance

BLBD stock opened at $54.51 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. Blue Bird Co. has a 52 week low of $17.59 and a 52 week high of $59.40. The firm’s fifty day moving average is $49.41 and its 200 day moving average is $46.09. The firm has a market cap of $1.76 billion, a P/E ratio of 22.07, a P/E/G ratio of 0.25 and a beta of 1.61.

Blue Bird (NASDAQ:BLBD) last released its earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.43 by $0.42. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. The company had revenue of $333.37 million for the quarter, compared to analyst estimates of $330.00 million. During the same quarter last year, the firm earned $0.42 EPS. Research analysts predict that Blue Bird Co. will post 3.22 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.