Castellan Group Invests $7.75 Million in Blue Bird Co. (NASDAQ:BLBD)

Castellan Group purchased a new position in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200,574 shares of the company's stock, valued at approximately $7,748,000. Blue Bird accounts for 3.4% of Castellan Group's portfolio, making the stock its 6th biggest holding. Castellan Group owned 0.62% of Blue Bird at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Blue Bird by 268.0% during the 3rd quarter. FMR LLC now owns 1,841,745 shares of the company's stock worth $88,330,000 after buying an additional 1,341,259 shares in the last quarter. Geode Capital Management LLC grew its holdings in Blue Bird by 26.2% during the third quarter. Geode Capital Management LLC now owns 752,228 shares of the company's stock worth $36,084,000 after acquiring an additional 156,298 shares during the period. Barclays PLC raised its position in Blue Bird by 976.5% in the third quarter. Barclays PLC now owns 128,658 shares of the company's stock worth $6,171,000 after acquiring an additional 116,707 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Blue Bird in the third quarter worth $39,100,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Blue Bird by 34.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 308,253 shares of the company's stock valued at $14,784,000 after acquiring an additional 79,129 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 2,848 shares of Blue Bird stock in a transaction dated 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 in the company, valued at $3,379,871.68. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BLBD shares. StockNews.com upgraded shares of Blue Bird from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Craig Hallum upped 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. Bank of America reduced their price target on shares of Blue Bird from $66.00 to $63.50 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Finally, Needham & Company LLC lowered their price target on Blue Bird from $66.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Blue Bird currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.21.

Blue Bird Price Performance

Shares of BLBD stock traded up $0.14 during trading hours on Monday, hitting $36.35. The company's stock had a trading volume of 450,785 shares, compared to its average volume of 798,980. The company has a current ratio of 1.44, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49. Blue Bird Co. has a twelve month low of $29.78 and a twelve month high of $59.40. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.94 and a beta of 1.56. The business has a fifty day moving average of $39.49 and a 200-day moving average of $43.30.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released 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%. As a group, equities research analysts anticipate that Blue Bird Co. will post 3.77 EPS for the current year.

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.