Asset Management One Co. Ltd. Has $4.92 Million Stake in Blue Bird Corporation $BLBD

Asset Management One Co. Ltd. decreased its position in shares of Blue Bird Corporation (NASDAQ:BLBD) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,094 shares of the company’s stock after selling 9,811 shares during the period. Asset Management One Co. Ltd.’s holdings in Blue Bird were worth $4,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Blue Bird during the 2nd quarter worth $366,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Blue Bird during the 2nd quarter worth $1,683,000. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Blue Bird by 27.9% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 823,096 shares of the company’s stock worth $35,525,000 after acquiring an additional 179,500 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Blue Bird during the 2nd quarter worth $234,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Blue Bird by 88.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 369,992 shares of the company’s stock worth $16,354,000 after acquiring an additional 173,253 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

Analysts Set New Price Targets

BLBD has been the subject of a number of research analyst reports. Zacks Research lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. BTIG Research boosted their price objective on shares of Blue Bird from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Wall Street Zen upgraded shares of Blue Bird from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. Finally, Needham & Company LLC boosted their price objective on shares of Blue Bird from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.58.

Insider Activity at Blue Bird

In related news, SVP Ted Scartz sold 8,877 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $55.22, for a total value of $490,187.94. Following the sale, the senior vice president owned 48,769 shares of the company’s stock, valued at $2,693,024.18. The trade was a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Razvan Radulescu sold 6,709 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $57.41, for a total transaction of $385,163.69. Following the completion of the sale, the chief financial officer directly owned 40,794 shares in the company, valued at approximately $2,341,983.54. The trade was a 14.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 127,392 shares of company stock valued at $7,342,183 over the last quarter. 1.10% of the stock is owned by company insiders.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $53.67 on Wednesday. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.46 and a beta of 1.64. The firm’s 50-day moving average is $56.73 and its 200-day moving average is $47.24. Blue Bird Corporation has a 52-week low of $30.04 and a 52-week high of $61.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 1.58.

Blue Bird (NASDAQ:BLBD) last posted its earnings results on Wednesday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.29. The business had revenue of $398.01 million for the quarter, compared to analysts’ expectations of $377.64 million. Blue Bird had a net margin of 8.16% and a return on equity of 61.66%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Equities research analysts anticipate that Blue Bird Corporation will post 3.86 earnings per share for the current year.

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.