Blue Bird Co. (NASDAQ:BLBD) Shares Acquired by Principal Financial Group Inc.

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

Several other large investors have also made changes to their positions in BLBD. Asset Management One Co. Ltd. purchased a new stake in Blue Bird during the third quarter worth approximately $2,517,000. Harbor Capital Advisors Inc. increased its holdings in Blue Bird by 104.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 78,418 shares of the company's stock valued at $3,761,000 after purchasing an additional 39,978 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Blue Bird by 0.4% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company's stock valued at $30,499,000 after purchasing an additional 2,598 shares during the period. Tectonic Advisors LLC acquired a new position in shares of Blue Bird during the third quarter worth about $836,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Blue Bird in the third quarter worth about $39,100,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Stock Performance

Shares of NASDAQ BLBD traded up $1.10 during midday trading on Friday, hitting $41.18. The company's stock had a trading volume of 662,053 shares, compared to its average volume of 905,453. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. The firm's fifty day moving average price is $44.31 and its 200-day moving average price is $48.62. Blue Bird Co. has a 1-year low of $17.79 and a 1-year high of $59.40. The firm has a market cap of $1.33 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.19 and a beta of 1.62.

Analyst Upgrades and Downgrades

BLBD has been the subject of a number of analyst reports. Roth Capital cut Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Roth Mkm lowered shares of Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 price target for the company. in a report on Thursday, October 3rd. Barclays upped their price objective on shares of Blue Bird from $43.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. BTIG Research initiated coverage on Blue Bird in a report on Wednesday, October 9th. They set a "buy" rating and a $55.00 price objective on the stock. Finally, Bank of America increased their target price on Blue Bird from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Blue Bird presently has an average rating of "Moderate Buy" and an average price target of $60.14.

Insiders Place Their Bets

In other Blue Bird news, CEO Phil Horlock sold 32,159 shares of Blue Bird stock in a transaction on Monday, August 26th. The stock was sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the sale, the chief executive officer now owns 299,812 shares of the company's stock, valued at $14,669,801.16. The trade was a 9.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Britton Smith sold 2,508 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the transaction, the president now directly owns 80,617 shares in the company, valued at $4,015,532.77. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

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.