Intech Investment Management LLC Purchases New Holdings in Blue Bird Co. (NASDAQ:BLBD)

Intech Investment Management LLC purchased a new position in shares of Blue Bird Co. (NASDAQ:BLBD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,262 shares of the company’s stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Axxcess Wealth Management LLC purchased a new position in shares of Blue Bird in the third quarter valued at $987,000. Vanguard Group Inc. grew its holdings in Blue Bird by 36.0% during the 1st quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock valued at $73,292,000 after buying an additional 505,727 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Blue Bird by 95.9% during the third quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock valued at $2,504,000 after buying an additional 25,563 shares during the period. Algert Global LLC lifted its holdings in shares of Blue Bird by 360.0% in the second quarter. Algert Global LLC now owns 105,651 shares of the company’s stock worth $5,689,000 after buying an additional 82,681 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of Blue Bird in the first quarter valued at approximately $527,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BLBD shares. Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Bank of America decreased their target price on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Barclays lifted their price target on Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of Blue Bird in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.64.

Insider Activity

In other Blue Bird news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction 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 owns 80,617 shares of the company’s stock, valued at $4,015,532.77. This represents a 3.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Blue Bird Stock Up 0.1 %

BLBD opened at $40.65 on Monday. Blue Bird Co. has a 52 week low of $18.33 and a 52 week high of $59.40. The company has a quick ratio of 0.66, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. The firm has a 50-day simple moving average of $43.23 and a two-hundred day simple moving average of $48.48. The company has a market capitalization of $1.31 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62.

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.