Olstein Capital Management L.P. Cuts Stake in Blue Bird Co. (NASDAQ:BLBD)

Olstein Capital Management L.P. reduced its stake in shares of Blue Bird Co. (NASDAQ:BLBD) by 35.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 92,000 shares of the company’s stock after selling 51,580 shares during the quarter. Olstein Capital Management L.P.’s holdings in Blue Bird were worth $3,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC increased its stake in shares of Blue Bird by 245.7% during the third quarter. Kennedy Capital Management LLC now owns 509,002 shares of the company’s stock worth $10,867,000 after purchasing an additional 361,763 shares in the last quarter. Brightline Capital Management LLC purchased a new stake in shares of Blue Bird in the 4th quarter valued at approximately $7,279,000. Wellington Management Group LLP grew its stake in shares of Blue Bird by 8.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,028,310 shares of the company’s stock valued at $43,304,000 after buying an additional 160,233 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Blue Bird by 13.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,206,299 shares of the company’s stock worth $25,754,000 after acquiring an additional 144,697 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Blue Bird by 864.1% in the 4th quarter. BNP Paribas Financial Markets now owns 160,439 shares of the company’s stock worth $4,325,000 after acquiring an additional 143,797 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Blue Bird Price Performance

Shares of NASDAQ BLBD traded up $0.90 during midday trading on Wednesday, hitting $48.34. The company had a trading volume of 359,105 shares, compared to its average volume of 561,398. The company has a quick ratio of 0.56, a current ratio of 1.23 and a debt-to-equity ratio of 0.88. Blue Bird Co. has a twelve month low of $17.59 and a twelve month high of $59.40. The business has a 50-day simple moving average of $49.96 and a two-hundred day simple moving average of $37.80. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 0.44 and a beta of 1.63.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.31 by $0.52. Blue Bird had a net margin of 6.36% and a return on equity of 154.10%. The firm had revenue of $345.92 million during the quarter, compared to analysts’ expectations of $315.00 million. Equities research analysts anticipate that Blue Bird Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

BLBD has been the topic of a number of research reports. Craig Hallum increased their target price on shares of Blue Bird from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Roth Mkm increased their target price on shares of Blue Bird from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Barclays increased their target price on shares of Blue Bird from $35.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. DA Davidson increased their target price on shares of Blue Bird from $44.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Finally, Needham & Company LLC increased their target price on shares of Blue Bird from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $49.25.

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.