Franklin Resources Inc. Boosts Stock Position in Blue Bird Co. (NASDAQ:BLBD)

Franklin Resources Inc. boosted its stake in shares of Blue Bird Co. (NASDAQ:BLBD) by 13.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,329 shares of the company’s stock after acquiring an additional 6,940 shares during the quarter. Franklin Resources Inc.’s holdings in Blue Bird were worth $2,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Blue Bird by 268.0% during the third quarter. FMR LLC now owns 1,841,745 shares of the company’s stock worth $88,330,000 after purchasing an additional 1,341,259 shares during the period. Geode Capital Management LLC raised its position in Blue Bird by 26.2% during the 3rd quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock worth $36,084,000 after buying an additional 156,298 shares during the last quarter. State Street Corp lifted its stake in shares of Blue Bird by 8.4% in the 3rd quarter. State Street Corp now owns 725,573 shares of the company’s stock worth $34,798,000 after acquiring an additional 56,449 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Blue Bird by 0.4% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company’s stock worth $30,499,000 after acquiring an additional 2,598 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Blue Bird by 81.7% in the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company’s stock valued at $27,432,000 after acquiring an additional 229,004 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Razvan Radulescu sold 19,171 shares of Blue Bird stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total transaction 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 $3,832,092.83. The trade was a 17.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

BLBD has been the subject of a number of recent analyst reports. BTIG Research began coverage on shares of Blue Bird in a research report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 price objective for the company. 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. Bank of America cut their price objective on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.64.

Blue Bird Price Performance

Shares of NASDAQ BLBD opened at $38.85 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $41.51 and its 200 day moving average price is $46.82. Blue Bird Co. has a 52 week low of $24.08 and a 52 week high of $59.40. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.05 and a beta of 1.59.

Blue Bird Company 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.