Principal Financial Group Inc. Purchases 21,919 Shares of Blue Bird Co. (NASDAQ:BLBD)

Principal Financial Group Inc. grew its position in Blue Bird Co. (NASDAQ:BLBD) by 60.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 58,019 shares of the company’s stock after buying an additional 21,919 shares during the period. Principal Financial Group Inc. owned 0.18% of Blue Bird worth $2,783,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BLBD. Axxcess Wealth Management LLC bought a new stake in Blue Bird during the 3rd quarter worth about $987,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Blue Bird by 34.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 308,253 shares of the company’s stock valued at $14,784,000 after purchasing an additional 79,129 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Blue Bird by 95.9% during the 3rd quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock worth $2,504,000 after buying an additional 25,563 shares during the period. Algert Global LLC raised its stake in shares of Blue Bird by 360.0% during 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Blue Bird by 138.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 21,692 shares of the company’s stock valued at $1,040,000 after buying an additional 12,576 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on BLBD shares. Bank of America dropped their target price on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research report on Tuesday, November 26th. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a report on Thursday, October 3rd. BTIG Research initiated coverage on Blue Bird in a research report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of Blue Bird in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blue Bird has an average rating of “Moderate Buy” and an average target price of $60.64.

Insiders Place Their Bets

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total transaction of $822,244.19. Following the completion of the transaction, the chief financial officer now owns 89,347 shares in the company, valued at approximately $3,832,092.83. This represents a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Blue Bird Trading Up 8.1 %

NASDAQ BLBD opened at $41.77 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83. The stock’s 50-day moving average is $40.81 and its 200-day moving average is $46.01. Blue Bird Co. has a one year low of $24.08 and a one year high of $59.40. The firm has a market cap of $1.35 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.10 and a beta of 1.59.

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.