Norges Bank Invests $3.35 Million in Blue Bird Co. (NASDAQ:BLBD)

Norges Bank acquired a new stake in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 86,700 shares of the company's stock, valued at approximately $3,349,000. Norges Bank owned approximately 0.27% of Blue Bird as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Blue Bird by 37.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,604 shares of the company's stock valued at $796,000 after buying an additional 4,515 shares in the last quarter. Janus Henderson Group PLC increased its stake in Blue Bird by 357.6% in the 3rd quarter. Janus Henderson Group PLC now owns 57,655 shares of the company's stock worth $2,764,000 after purchasing an additional 45,055 shares during the period. Stifel Financial Corp bought a new stake in Blue Bird during the 3rd quarter valued at $1,599,000. State Street Corp grew its holdings in Blue Bird by 8.4% in the 3rd quarter. State Street Corp now owns 725,573 shares of the company's stock worth $34,798,000 after acquiring an additional 56,449 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Blue Bird in the third quarter valued at about $26,000. 93.59% of the stock is owned by institutional investors.

Insider Activity at Blue Bird

In related news, CFO Razvan Radulescu sold 2,848 shares of Blue Bird stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.12, for a total value of $108,565.76. Following the completion of the sale, the chief financial officer now owns 88,664 shares of the company's stock, valued at $3,379,871.68. The trade was a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

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Blue Bird Stock Down 1.5 %

Blue Bird stock traded down $0.52 during trading hours on Wednesday, hitting $33.19. The stock had a trading volume of 45,203 shares, compared to its average volume of 664,829. The stock's 50-day moving average price is $34.39 and its 200-day moving average price is $38.76. Blue Bird Co. has a 12-month low of $30.04 and a 12-month high of $59.40. The company has a quick ratio of 0.73, a current ratio of 1.44 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1.07 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38.

Blue Bird (NASDAQ:BLBD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. Equities research analysts anticipate that Blue Bird Co. will post 3.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLBD. Needham & Company LLC dropped their price objective on Blue Bird from $66.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, February 6th. StockNews.com raised shares of Blue Bird from a "hold" rating to a "buy" rating in a research note on Saturday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.21.

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.