Blue Bird Co. (NASDAQ:BLBD) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) by 60.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,019 shares of the company's stock after buying an additional 21,919 shares during the period. Principal Financial Group Inc. owned about 0.18% of Blue Bird worth $2,783,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BLBD. Bank of New York Mellon Corp boosted its position in shares of Blue Bird by 39.9% in the second quarter. Bank of New York Mellon Corp now owns 107,541 shares of the company's stock worth $5,791,000 after buying an additional 30,667 shares during the period. Rhumbline Advisers lifted its position in shares of Blue Bird by 11.7% during the second quarter. Rhumbline Advisers now owns 43,121 shares of the company's stock worth $2,322,000 after purchasing an additional 4,528 shares in the last quarter. Savant Capital LLC lifted 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 worth $618,000 after purchasing an additional 382 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Blue Bird in the second quarter valued at $522,000. Finally, Rice Hall James & Associates LLC grew its holdings in Blue Bird by 36.6% during the 2nd quarter. Rice Hall James & Associates LLC now owns 148,019 shares of the company's stock valued at $7,971,000 after purchasing an additional 39,664 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Blue Bird Stock Performance

Shares of NASDAQ:BLBD traded up $3.12 during trading on Friday, reaching $41.77. 540,312 shares of the company's stock traded hands, compared to its average volume of 511,906. The stock has a market capitalization of $1.34 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.58. Blue Bird Co. has a 12 month low of $24.08 and a 12 month high of $59.40. The company has a 50 day moving average of $40.81 and a 200-day moving average of $46.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83.

Insider Buying and Selling at Blue Bird

In other news, CFO Razvan Radulescu sold 19,171 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total transaction of $822,244.19. Following the completion of the transaction, the chief financial officer now owns 89,347 shares of the company's stock, valued at approximately $3,832,092.83. The trade was a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BLBD has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Blue Bird from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of Blue Bird in a research note on Friday, December 13th. Bank of America lowered their price objective on Blue Bird from $66.00 to $63.50 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Craig Hallum upped their target price on Blue Bird from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Roth Mkm cut Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 target price for the company. in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.64.

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.