Barclays PLC Boosts Holdings in Blue Bird Co. (NASDAQ:BLBD)

Barclays PLC raised its stake in Blue Bird Co. (NASDAQ:BLBD - Free Report) by 976.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,658 shares of the company's stock after acquiring an additional 116,707 shares during the period. Barclays PLC owned 0.40% of Blue Bird worth $6,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in BLBD. Hodges Capital Management Inc. purchased a new position in shares of Blue Bird during the third quarter worth approximately $3,319,000. XTX Topco Ltd increased its stake in Blue Bird by 123.8% in the third quarter. XTX Topco Ltd now owns 11,137 shares of the company's stock valued at $534,000 after purchasing an additional 6,161 shares during the period. Zacks Investment Management acquired a new position in Blue Bird in the third quarter valued at $524,000. National Bank of Canada FI purchased a new stake in shares of Blue Bird in the third quarter valued at about $26,000. Finally, Castleark Management LLC boosted its stake in shares of Blue Bird by 0.9% during the third quarter. Castleark Management LLC now owns 119,070 shares of the company's stock worth $5,711,000 after buying an additional 1,120 shares during the period. Hedge funds and other institutional investors own 93.59% of the company's stock.

Blue Bird Price Performance

Shares of NASDAQ BLBD traded down $1.36 during trading on Friday, hitting $39.37. 929,749 shares of the company were exchanged, compared to its average volume of 630,488. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83. Blue Bird Co. has a 1 year low of $24.08 and a 1 year high of $59.40. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.05 and a beta of 1.59. The firm's fifty day moving average price is $41.75 and its 200 day moving average price is $47.20.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Craig Hallum upped their price objective on Blue Bird from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Roth Mkm cut 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. Bank of America lowered their price objective on shares of Blue Bird from $66.00 to $63.50 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. BTIG Research initiated coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They set a "buy" rating and a $55.00 price objective for the company. Finally, Roth Capital downgraded shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Blue Bird has an average rating of "Moderate Buy" and an average target price of $60.64.

Insider Activity at Blue Bird

In related news, CFO Razvan Radulescu sold 19,171 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total value of $822,244.19. Following the completion of the transaction, the chief financial officer now directly owns 89,347 shares of the company's stock, valued at $3,832,092.83. This trade represents a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company's stock.

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.