National Bank of Canada FI Takes Position in Blue Bird Co. (NASDAQ:BLBD)

National Bank of Canada FI purchased a new position in shares of Blue Bird Co. (NASDAQ:BLBD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 544 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of Blue Bird during the third quarter valued at approximately $35,000. Private Trust Co. NA bought a new stake in shares of Blue Bird during the 3rd quarter worth approximately $38,000. nVerses Capital LLC bought a new position in Blue Bird in the 3rd quarter valued at $53,000. Millburn Ridgefield Corp purchased a new stake in Blue Bird in the third quarter worth $56,000. Finally, Quarry LP increased its stake in Blue Bird by 43.9% in the second quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after purchasing an additional 358 shares during the period. 93.59% of the stock is currently owned by institutional investors.

Blue Bird Stock Down 3.7 %

Shares of NASDAQ BLBD opened at $42.75 on Thursday. Blue Bird Co. has a 12-month low of $24.08 and a 12-month high of $59.40. The stock’s fifty day simple moving average is $41.89 and its two-hundred day simple moving average is $47.36. The stock has a market capitalization of $1.38 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total value of $822,244.19. Following the completion of the transaction, the chief financial officer now directly owns 89,347 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BLBD has been the topic of a number of research analyst reports. StockNews.com cut shares of Blue Bird from a “buy” rating to a “hold” rating in a report on Monday. Roth Capital downgraded shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research note on Friday, December 13th. BTIG Research started coverage on Blue Bird in a research note on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective on the stock. Finally, Craig Hallum lifted 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.