Intech Investment Management LLC Buys New Shares in Blue Bird Co. (NASDAQ:BLBD)

Intech Investment Management LLC purchased a new position in shares of Blue Bird Co. (NASDAQ:BLBD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,262 shares of the company’s stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLBD. Vanguard Group Inc. raised its holdings in shares of Blue Bird by 36.0% during the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after purchasing an additional 505,727 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Blue Bird by 81.7% during the 2nd quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock valued at $27,432,000 after buying an additional 229,004 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Blue Bird in the 2nd quarter valued at about $11,788,000. Millennium Management LLC boosted its stake in shares of Blue Bird by 414.2% in the second quarter. Millennium Management LLC now owns 256,933 shares of the company’s stock worth $13,836,000 after buying an additional 206,966 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Blue Bird during the second quarter worth about $5,719,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Stock Performance

NASDAQ:BLBD opened at $40.65 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.66. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62. The firm’s fifty day moving average price is $43.23 and its 200 day moving average price is $48.48. Blue Bird Co. has a 1-year low of $18.33 and a 1-year high of $59.40.

Insiders Place Their Bets

In other news, President Britton Smith sold 2,508 shares of Blue Bird stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the sale, the president now directly owns 80,617 shares in the company, valued at $4,015,532.77. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BTIG Research began coverage on shares of Blue Bird in a report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Blue Bird in a report on Tuesday, November 26th. Roth Mkm lowered shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research note on Thursday, October 3rd. Craig Hallum lifted their price target on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America reduced their price target on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.