State Street Corp Grows Stock Holdings in Blue Bird Co. (NASDAQ:BLBD)

State Street Corp grew its holdings in Blue Bird Co. (NASDAQ:BLBD - Free Report) by 8.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 725,573 shares of the company's stock after acquiring an additional 56,449 shares during the quarter. State Street Corp owned about 2.24% of Blue Bird worth $34,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Truvestments Capital LLC purchased a new position in Blue Bird in the third quarter valued at approximately $35,000. Private Trust Co. NA purchased a new position in shares of Blue Bird in the 3rd quarter valued at $38,000. nVerses Capital LLC acquired a new stake in Blue Bird during the 3rd quarter worth $53,000. Millburn Ridgefield Corp purchased a new stake in Blue Bird in the third quarter valued at $56,000. Finally, Quarry LP boosted its stake in Blue Bird by 43.9% in the second quarter. Quarry LP now owns 1,174 shares of the company's stock valued at $63,000 after acquiring an additional 358 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Insider Transactions at Blue Bird

In related news, CFO Razvan Radulescu sold 19,171 shares of Blue Bird 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 sale, the chief financial officer now directly owns 89,347 shares in the company, valued at $3,832,092.83. The trade was a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company's stock.

Blue Bird Stock Performance

Shares of Blue Bird stock traded down $1.36 during trading hours on Friday, hitting $39.37. 929,749 shares of the company were exchanged, compared to its average volume of 630,488. The business has a 50-day moving average of $41.75 and a 200-day moving average of $47.20. Blue Bird Co. has a 1 year low of $24.08 and a 1 year high of $59.40. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. 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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America cut their target price on Blue Bird from $66.00 to $63.50 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price target on shares of Blue Bird in a research report on Friday, December 13th. Roth Capital downgraded Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Craig Hallum raised their target price 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. Finally, BTIG Research started coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They issued a "buy" rating and a $55.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.64.

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.