Axxcess Wealth Management LLC Makes New Investment in Blue Bird Co. (NASDAQ:BLBD)

Axxcess Wealth Management LLC purchased a new position in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,572 shares of the company's stock, valued at approximately $987,000. Axxcess Wealth Management LLC owned about 0.06% of Blue Bird at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BLBD. Janney Montgomery Scott LLC purchased a new stake in Blue Bird in the 1st quarter worth approximately $688,000. SG Americas Securities LLC boosted its holdings in Blue Bird by 52.2% during the first quarter. SG Americas Securities LLC now owns 12,559 shares of the company's stock worth $482,000 after buying an additional 4,310 shares in the last quarter. Swiss National Bank grew its position in Blue Bird by 33.4% during the first quarter. Swiss National Bank now owns 63,500 shares of the company's stock valued at $2,435,000 after buying an additional 15,900 shares during the period. Sei Investments Co. purchased a new position in Blue Bird in the first quarter valued at $2,134,000. Finally, Inspire Investing LLC acquired a new position in shares of Blue Bird in the first quarter worth about $359,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Roth Mkm lowered Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 price target for the company. in a research note on Thursday, October 3rd. DA Davidson upped their target price on Blue Bird from $66.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. BTIG Research began coverage on Blue Bird in a research report on Wednesday, October 9th. They set a "buy" rating and a $55.00 target price on the stock. Bank of America boosted their price target on shares of Blue Bird from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Finally, Roth Capital cut shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Blue Bird has an average rating of "Moderate Buy" and a consensus target price of $60.14.

Blue Bird Price Performance

BLBD stock traded up $0.79 during mid-day trading on Wednesday, reaching $41.47. The company's stock had a trading volume of 672,651 shares, compared to its average volume of 600,116. The stock has a market cap of $1.34 billion, a PE ratio of 14.07, a P/E/G ratio of 0.20 and a beta of 1.62. The company's 50 day moving average is $45.71 and its two-hundred day moving average is $48.56. Blue Bird Co. has a fifty-two week low of $17.79 and a fifty-two week high of $59.40. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66.

Insider Activity at Blue Bird

In other news, SVP Ted Scartz sold 2,985 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $48.60, for a total transaction of $145,071.00. Following the transaction, the senior vice president now owns 51,863 shares of the company's stock, valued at approximately $2,520,541.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, President Britton Smith sold 2,508 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $48.00, for a total value of $120,384.00. Following the transaction, the president now owns 83,125 shares of the company's stock, valued at $3,990,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ted Scartz sold 2,985 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $48.60, for a total transaction of $145,071.00. Following the completion of the transaction, the senior vice president now directly owns 51,863 shares in the company, valued at $2,520,541.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,240 shares of company stock valued at $2,725,146. 2.10% of the stock is currently owned by insiders.

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.