Wells Fargo & Company MN Sells 22,061 Shares of Blue Bird Co. (NASDAQ:BLBD)

Wells Fargo & Company MN lessened its stake in shares of Blue Bird Co. (NASDAQ:BLBD - Free Report) by 37.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,153 shares of the company's stock after selling 22,061 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of Blue Bird worth $1,435,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Blue Bird by 60.7% during the 3rd quarter. Principal Financial Group Inc. now owns 58,019 shares of the company's stock valued at $2,783,000 after purchasing an additional 21,919 shares during the period. Encompass More Asset Management bought a new stake in Blue Bird during the 4th quarter valued at approximately $1,376,000. Ieq Capital LLC bought a new stake in Blue Bird during the 4th quarter valued at approximately $354,000. Whalen Wealth Management Inc. bought a new stake in Blue Bird during the 4th quarter valued at approximately $315,000. Finally, Olstein Capital Management L.P. boosted its stake in Blue Bird by 61.5% during the 4th quarter. Olstein Capital Management L.P. now owns 63,000 shares of the company's stock valued at $2,434,000 after purchasing an additional 24,000 shares during the period. Institutional investors own 93.59% of the company's stock.

Blue Bird Stock Performance

Blue Bird stock opened at $35.79 on Monday. Blue Bird Co. has a 52-week low of $30.04 and a 52-week high of $59.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.44 and a quick ratio of 0.73. The stock has a fifty day moving average price of $34.04 and a two-hundred day moving average price of $38.19. The firm has a market capitalization of $1.15 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.84 and a beta of 1.38.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. Blue Bird had a net margin of 8.05% and a return on equity of 75.22%. As a group, analysts anticipate that Blue Bird Co. will post 3.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BLBD shares. Needham & Company LLC decreased their target price on Blue Bird from $66.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. DA Davidson reduced their price objective on Blue Bird from $67.00 to $61.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, StockNews.com upgraded Blue Bird from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.36.

Insider Activity

In other Blue Bird news, CFO Razvan Radulescu sold 2,848 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.12, for a total transaction of $108,565.76. Following the transaction, the chief financial officer now directly owns 88,664 shares in the company, valued at approximately $3,379,871.68. This represents a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% 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.

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