Blue Bird Co. (NASDAQ:BLBD) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Blue Bird Co. (NASDAQ:BLBD) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,177 shares of the company’s stock after selling 6,582 shares during the quarter. JPMorgan Chase & Co. owned 0.94% of Blue Bird worth $14,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in Blue Bird during the 3rd quarter worth $26,000. Truvestments Capital LLC purchased a new stake in shares of Blue Bird in the 3rd quarter valued at about $35,000. Private Trust Co. NA purchased a new stake in shares of Blue Bird in the 3rd quarter valued at about $38,000. nVerses Capital LLC purchased a new stake in shares of Blue Bird in the 3rd quarter valued at about $53,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Blue Bird in the 3rd quarter valued at about $56,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLBD shares. Roth Capital downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Craig Hallum boosted their target price on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of Blue Bird in a research note on Friday, December 13th. Bank of America reduced their price objective on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, BTIG Research began coverage on Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Blue Bird presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

Blue Bird Stock Performance

NASDAQ BLBD opened at $41.73 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $40.66 and its two-hundred day moving average is $45.52. Blue Bird Co. has a 12-month low of $24.08 and a 12-month high of $59.40. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.10 and a beta of 1.58.

Insiders Place Their Bets

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total transaction of $822,244.19. Following the transaction, the chief financial officer now owns 89,347 shares in the company, valued at approximately $3,832,092.83. The trade was a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

Blue Bird Company 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.