Millennium Management LLC Acquires 206,966 Shares of Blue Bird Co. (NASDAQ:BLBD)

Millennium Management LLC increased its holdings in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) by 414.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 256,933 shares of the company's stock after purchasing an additional 206,966 shares during the period. Millennium Management LLC owned approximately 0.80% of Blue Bird worth $13,836,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in Blue Bird in the 1st quarter worth $29,000. Macroview Investment Management LLC acquired a new stake in Blue Bird during the second quarter worth about $29,000. Meeder Asset Management Inc. bought a new position in Blue Bird during the second quarter valued at about $81,000. Canada Pension Plan Investment Board acquired a new position in Blue Bird in the 2nd quarter valued at approximately $113,000. Finally, Virtus Investment Advisers Inc. acquired a new stake in shares of Blue Bird during the 1st quarter worth approximately $120,000. Institutional investors own 93.59% of the company's stock.

Blue Bird Price Performance

Shares of Blue Bird stock traded down $0.92 during trading on Monday, reaching $42.02. 1,036,391 shares of the company's stock were exchanged, compared to its average volume of 574,406. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. Blue Bird Co. has a 1-year low of $17.59 and a 1-year high of $59.40. The company has a market cap of $1.36 billion, a P/E ratio of 17.01, a PEG ratio of 0.28 and a beta of 1.60. The firm's 50-day moving average price is $48.92 and its 200 day moving average price is $47.27.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.43 by $0.42. The firm had revenue of $333.37 million during the quarter, compared to the consensus estimate of $330.00 million. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, research analysts anticipate that Blue Bird Co. will post 3.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BLBD shares. Bank of America raised their target price on Blue Bird from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of Blue Bird from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Barclays boosted their price target on Blue Bird from $43.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Blue Bird in a research note on Tuesday, September 10th. Finally, DA Davidson raised their target price on Blue Bird from $66.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Insider Transactions at Blue Bird

In related news, SVP Ted Scartz sold 2,985 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $48.60, for a total transaction of $145,071.00. Following the sale, the senior vice president now owns 51,863 shares in the company, valued at $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 is available at this hyperlink. In related news, President Britton Smith sold 2,508 shares of the company's stock in a transaction that occurred 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 sale, the president now directly owns 83,125 shares in the company, valued at $3,990,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ted Scartz sold 2,985 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $48.60, for a total transaction of $145,071.00. Following the sale, the senior vice president now owns 51,863 shares of the company's stock, valued at approximately $2,520,541.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,240 shares of company stock worth $2,725,146. Corporate 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.