State Street Corp Buys 56,449 Shares of Blue Bird Co. (NASDAQ:BLBD)

State Street Corp grew its stake in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 725,573 shares of the company's stock after buying an additional 56,449 shares during the period. State Street Corp owned 2.24% of Blue Bird worth $34,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BLBD. Quarry LP increased its holdings in Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company's stock valued at $63,000 after acquiring an additional 358 shares during the last quarter. Savant Capital LLC grew its position in shares of Blue Bird by 3.4% during the second quarter. Savant Capital LLC now owns 11,473 shares of the company's stock valued at $618,000 after purchasing an additional 382 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Blue Bird by 9.3% in the third quarter. Townsquare Capital LLC now owns 8,235 shares of the company's stock worth $395,000 after purchasing an additional 700 shares during the last quarter. Creative Planning lifted its position in shares of Blue Bird by 13.5% in the third quarter. Creative Planning now owns 5,937 shares of the company's stock worth $285,000 after buying an additional 707 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Blue Bird during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.59% of the company's stock.

Blue Bird Trading Down 3.3 %

NASDAQ BLBD traded down $1.36 during trading on Friday, hitting $39.37. The stock had a trading volume of 929,749 shares, compared to its average volume of 630,488. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.05 and a beta of 1.59. The stock has a 50 day simple moving average of $41.75 and a 200 day simple moving average of $47.15. Blue Bird Co. has a one year low of $24.08 and a one year high of $59.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.83 and a current ratio of 1.37.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BTIG Research initiated coverage on Blue Bird in a research note on Wednesday, October 9th. They issued a "buy" rating and a $55.00 price objective on the stock. StockNews.com cut shares of Blue Bird from a "buy" rating to a "hold" rating in a research report on Monday, December 16th. Roth Capital lowered shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. Bank of America reduced their target price on shares of Blue Bird from $66.00 to $63.50 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Finally, Craig Hallum increased their price target on shares of Blue Bird from $68.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Blue Bird has a consensus rating of "Moderate Buy" and a consensus price target of $60.64.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the stock in a transaction 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 sale, the chief financial officer now owns 89,347 shares in the company, valued at $3,832,092.83. This trade represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

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.