Quarry LP Has $63,000 Stock Holdings in Blue Bird Co. (NASDAQ:BLBD)

Quarry LP lifted its holdings in shares of Blue Bird Co. (NASDAQ:BLBD) by 43.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,174 shares of the company’s stock after purchasing an additional 358 shares during the quarter. Quarry LP’s holdings in Blue Bird were worth $63,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BLBD. Covestor Ltd bought a new position in Blue Bird during the first quarter valued at about $29,000. Macroview Investment Management LLC bought a new position in shares of Blue Bird in the 2nd quarter valued at approximately $29,000. Meeder Asset Management Inc. acquired a new stake in Blue Bird in the 2nd quarter worth approximately $81,000. Canada Pension Plan Investment Board bought a new stake in Blue Bird during the second quarter worth approximately $113,000. Finally, Virtus Investment Advisers Inc. acquired a new position in Blue Bird during the first quarter valued at approximately $120,000. Institutional investors own 93.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Blue Bird in a report on Tuesday, September 10th. Barclays upped their price target on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Thursday. Bank of America raised their target price on Blue Bird from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, DA Davidson lifted their price target on Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.00.

Insider Transactions at Blue Bird

In related news, SVP Ted Scartz sold 2,985 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $48.60, for a total value of $145,071.00. Following the sale, the senior vice president now owns 51,863 shares of the company’s stock, valued at $2,520,541.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value 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. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Britton Smith sold 2,508 shares of the company’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 completion of the sale, the president now owns 80,617 shares in the company, valued at $4,015,532.77. The disclosure for this sale can be found here. In the last three months, insiders sold 56,240 shares of company stock valued at $2,725,146. Company insiders own 2.10% of the company’s stock.

Blue Bird Trading Down 7.1 %

Shares of BLBD opened at $42.73 on Friday. The stock’s 50-day moving average price is $49.10 and its 200 day moving average price is $47.02. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66. Blue Bird Co. has a 12-month low of $17.59 and a 12-month high of $59.40. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 0.28 and a beta of 1.61.

Blue Bird (NASDAQ:BLBD) last issued its earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a return on equity of 116.23% and a net margin of 7.65%. The business had revenue of $333.37 million during the quarter, compared to analyst estimates of $330.00 million. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, research analysts predict that Blue Bird Co. will post 3.22 earnings per share for the current year.

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.