Zacks Investment Management Takes $524,000 Position in Blue Bird Co. (NASDAQ:BLBD)

Zacks Investment Management purchased a new stake in Blue Bird Co. (NASDAQ:BLBD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,926 shares of the company’s stock, valued at approximately $524,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Axxcess Wealth Management LLC acquired a new position in shares of Blue Bird in the 3rd quarter valued at $987,000. Victory Capital Management Inc. lifted its position in Blue Bird by 95.9% in the 3rd quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock valued at $2,504,000 after acquiring an additional 25,563 shares in the last quarter. Algert Global LLC lifted its position in Blue Bird by 360.0% in the 2nd quarter. Algert Global LLC now owns 105,651 shares of the company’s stock valued at $5,689,000 after acquiring an additional 82,681 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 79,129 shares in the last quarter. Finally, Cetera Advisors LLC bought a new stake in Blue Bird in the 1st quarter valued at $527,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Insider Transactions at Blue Bird

In related news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at approximately $4,015,532.77. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on BLBD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Blue Bird in a research report on Tuesday, November 26th. Roth Capital cut shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. BTIG Research assumed coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective on the stock. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Thursday, October 3rd. Finally, Craig Hallum boosted their price target on shares of Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Blue Bird presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Blue Bird Stock Up 2.7 %

Blue Bird stock opened at $40.01 on Wednesday. The firm has a market capitalization of $1.29 billion, a PE ratio of 12.58, a P/E/G ratio of 1.01 and a beta of 1.59. The company’s 50-day moving average is $42.00 and its 200-day moving average is $47.94. Blue Bird Co. has a fifty-two week low of $21.56 and a fifty-two week high of $59.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83.

About Blue Bird

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.