Blue Bird Corporation $BLBD Position Lessened by Redmond Asset Management LLC

Redmond Asset Management LLC decreased its holdings in Blue Bird Corporation (NASDAQ:BLBD) by 69.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,699 shares of the company’s stock after selling 24,148 shares during the period. Redmond Asset Management LLC’s holdings in Blue Bird were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Blue Bird in the second quarter worth about $207,493,000. Jupiter Topco LLC bought a new position in Blue Bird during the second quarter worth about $94,222,000. Bank of America Corp DE acquired a new stake in Blue Bird during the second quarter valued at approximately $63,565,000. Neumeier Poma Investment Counsel LLC acquired a new stake in Blue Bird during the second quarter valued at approximately $51,129,758. Finally, Empowered Funds LLC acquired a new stake in Blue Bird during the second quarter valued at approximately $28,896,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Price Performance

Shares of Blue Bird stock opened at $57.17 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.67 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 6.95, a P/E/G ratio of 0.84 and a beta of 1.37. Blue Bird Corporation has a 1-year low of $46.14 and a 1-year high of $83.39. The firm’s 50-day moving average price is $58.85 and its two-hundred day moving average price is $62.97.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.03. Blue Bird had a net margin of 17.48% and a return on equity of 39.97%. The company had revenue of $517.16 million during the quarter, compared to analyst estimates of $485.73 million. On average, equities analysts predict that Blue Bird Corporation will post 4.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Jeffrey Sanfrey sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $62.40, for a total transaction of $249,600.00. Following the sale, the chief operating officer directly owned 35,011 shares in the company, valued at $2,184,686.40. This represents a 10.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. DA Davidson increased their target price on Blue Bird from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen lowered Blue Bird from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. BTIG Research boosted their price target on Blue Bird from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $86.00 price target on shares of Blue Bird in a research report on Thursday, August 6th. Finally, Roth Capital set a $93.00 price objective on Blue Bird in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Blue Bird currently has a consensus rating of “Moderate Buy” and an average target price of $85.33.

Blue Bird Company Profile

Blue Bird Corporation (NASDAQ:BLBD) designs, manufactures, and sells school buses in North America. Its product portfolio includes Type A, Type C, and Type D school buses powered by gasoline, diesel, propane, and electric powertrains. The company also provides replacement parts and aftermarket support for its vehicles.

Founded in 1927, Blue Bird is one of the longstanding manufacturers in the school bus industry. Its buses are used by public and private schools, school districts, contractors, and other student transportation providers.