Raymond James Financial Inc. Takes Position in Blue Bird Co. (NASDAQ:BLBD)

Raymond James Financial Inc. bought a new stake in shares of Blue Bird Co. (NASDAQ:BLBD) during the fourth quarter, Holdings Channel reports. The institutional investor bought 174,551 shares of the company’s stock, valued at approximately $6,743,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Blue Bird by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 318,188 shares of the company’s stock valued at $12,292,000 after purchasing an additional 9,935 shares during the period. Los Angeles Capital Management LLC increased its position in Blue Bird by 112.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 23,892 shares of the company’s stock valued at $923,000 after buying an additional 12,661 shares in the last quarter. Bank of New York Mellon Corp increased its position in Blue Bird by 27.8% in the 4th quarter. Bank of New York Mellon Corp now owns 106,649 shares of the company’s stock valued at $4,120,000 after buying an additional 23,205 shares in the last quarter. Redmond Asset Management LLC acquired a new position in Blue Bird during the 4th quarter worth approximately $1,313,000. Finally, Ieq Capital LLC bought a new position in Blue Bird in the fourth quarter worth approximately $354,000. 93.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America decreased their price objective on Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a report on Tuesday, November 26th. Craig Hallum lifted their price target on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com downgraded shares of Blue Bird from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC dropped their price objective on shares of Blue Bird from $66.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Blue Bird currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.21.

Blue Bird Stock Down 3.2 %

Shares of NASDAQ:BLBD opened at $33.55 on Monday. The business’s 50 day moving average is $36.46 and its 200 day moving average is $40.84. Blue Bird Co. has a 12-month low of $30.67 and a 12-month high of $59.40. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 0.84 and a beta of 1.58. The company has a quick ratio of 0.73, a current ratio of 1.44 and a debt-to-equity ratio of 0.49.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Blue Bird had a net margin of 8.05% and a return on equity of 75.22%. On average, sell-side analysts forecast that Blue Bird Co. will post 3.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blue Bird news, CFO Razvan Radulescu sold 2,848 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.12, for a total value of $108,565.76. Following the completion of the sale, the chief financial officer now owns 88,664 shares in the company, valued at approximately $3,379,871.68. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.