Tectonic Advisors LLC Acquires Shares of 17,428 Blue Bird Co. (NASDAQ:BLBD)

Tectonic Advisors LLC acquired a new stake in Blue Bird Co. (NASDAQ:BLBD - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 17,428 shares of the company's stock, valued at approximately $836,000. Tectonic Advisors LLC owned 0.05% of Blue Bird at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd acquired a new position in Blue Bird during the 1st quarter worth approximately $29,000. Macroview Investment Management LLC acquired a new position in Blue Bird during the 2nd quarter worth approximately $29,000. nVerses Capital LLC acquired a new position in Blue Bird during the 3rd quarter worth approximately $53,000. Quarry LP raised its stake in Blue Bird by 43.9% during the 2nd quarter. Quarry LP now owns 1,174 shares of the company's stock worth $63,000 after buying an additional 358 shares during the period. Finally, Signaturefd LLC raised its stake in Blue Bird by 1,227.7% during the 3rd quarter. Signaturefd LLC now owns 1,580 shares of the company's stock worth $76,000 after buying an additional 1,461 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson boosted their price objective on Blue Bird from $66.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Barclays increased their price objective on Blue Bird from $43.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, August 9th. Bank of America increased their price objective on Blue Bird from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Roth Mkm downgraded Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 price objective for the company. in a research note on Thursday, October 3rd. Finally, StockNews.com downgraded Blue Bird from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.00.

Blue Bird Stock Performance

Shares of BLBD traded up $1.27 on Friday, reaching $42.43. 973,963 shares of the company's stock traded hands, compared to its average volume of 748,379. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.37 billion, a PE ratio of 14.00, a PEG ratio of 0.21 and a beta of 1.60. The stock's 50 day simple moving average is $47.33 and its two-hundred day simple moving average is $47.78. Blue Bird Co. has a 52-week low of $17.59 and a 52-week high of $59.40.

Blue Bird (NASDAQ:BLBD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.42. The firm had revenue of $333.37 million during the quarter, compared to analyst estimates of $330.00 million. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. During the same period last year, the company earned $0.42 earnings per share. On average, analysts forecast that Blue Bird Co. will post 3.22 earnings per share for the current fiscal year.

Insider Transactions at Blue Bird

In other Blue Bird news, SVP Ted Scartz sold 2,985 shares of Blue Bird stock in a transaction that occurred 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 directly owns 51,863 shares of the company's stock, valued at approximately $2,520,541.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the president now directly owns 83,125 shares of the company's stock, valued at approximately $3,990,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ted Scartz sold 2,985 shares of the business's stock in a transaction on Thursday, August 15th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,240 shares of company stock worth $2,725,146. 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.