Blue Bird Co. (NASDAQ:BLBD) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in Blue Bird Co. (NASDAQ:BLBD) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 301,177 shares of the company’s stock after selling 6,582 shares during the quarter. JPMorgan Chase & Co.’s holdings in Blue Bird were worth $14,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP grew its holdings in shares of Blue Bird by 43.9% in the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after acquiring an additional 358 shares during the period. Savant Capital LLC grew its holdings in Blue Bird by 3.4% during the 2nd quarter. Savant Capital LLC now owns 11,473 shares of the company’s stock valued at $618,000 after buying an additional 382 shares during the last quarter. National Bank of Canada FI acquired a new stake in Blue Bird during the 3rd quarter valued at $26,000. Townsquare Capital LLC grew its holdings in Blue Bird by 9.3% during the 3rd quarter. Townsquare Capital LLC now owns 8,235 shares of the company’s stock valued at $395,000 after buying an additional 700 shares during the last quarter. Finally, Creative Planning grew its holdings in Blue Bird by 13.5% during the 3rd quarter. Creative Planning now owns 5,937 shares of the company’s stock valued at $285,000 after buying an additional 707 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Trading Up 3.6 %

Shares of Blue Bird stock opened at $41.73 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.34 billion, a PE ratio of 13.12, a P/E/G ratio of 1.10 and a beta of 1.58. The business’s fifty day moving average is $40.66 and its two-hundred day moving average is $45.52. Blue Bird Co. has a fifty-two week low of $24.08 and a fifty-two week high of $59.40.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 19,171 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.89, for a total value of $822,244.19. Following the transaction, the chief financial officer now directly owns 89,347 shares of the company’s stock, valued at $3,832,092.83. This trade represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BLBD. StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Roth Capital cut Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of Blue Bird in a report on Friday, December 13th. Craig Hallum increased their price target on Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, BTIG Research initiated coverage on Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.64.

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.