The Manufacturers Life Insurance Company Increases Stake in Blue Bird Co. (NASDAQ:BLBD)

The Manufacturers Life Insurance Company lifted its holdings in Blue Bird Co. (NASDAQ:BLBD) by 37.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,604 shares of the company’s stock after purchasing an additional 4,515 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Blue Bird were worth $796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLBD. CWM LLC lifted its position in shares of Blue Bird by 51.1% during the second quarter. CWM LLC now owns 3,227 shares of the company’s stock worth $174,000 after purchasing an additional 1,091 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Blue Bird by 18.1% in the second quarter. Raymond James & Associates now owns 92,674 shares of the company’s stock valued at $4,990,000 after acquiring an additional 14,186 shares in the last quarter. Vista Investment Partners LLC purchased a new position in Blue Bird in the second quarter valued at about $484,000. Macroview Investment Management LLC purchased a new position in Blue Bird in the second quarter valued at about $29,000. Finally, Hennessy Advisors Inc. purchased a new position in Blue Bird in the second quarter valued at about $11,788,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Stock Performance

NASDAQ BLBD opened at $43.71 on Friday. The stock has a market cap of $1.41 billion, a PE ratio of 13.81, a P/E/G 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. Blue Bird Co. has a twelve month low of $23.76 and a twelve month high of $59.40. The stock has a fifty day simple moving average of $41.78 and a 200-day simple moving average of $47.75.

Analyst Ratings Changes

BLBD has been the topic of a number of research analyst reports. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of Blue Bird in a report on Friday. BTIG Research initiated coverage on Blue Bird in a report on Wednesday, October 9th. They set a “buy” rating and a $55.00 target price for the company. Bank of America decreased 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. Finally, StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.