Harbour Capital Advisors LLC Buys 1,750 Shares of Blue Bird Co. (NASDAQ:BLBD)

by · The Markets Daily

Harbour Capital Advisors LLC lifted its position in Blue Bird Co. (NASDAQ:BLBD – Free Report) by 14.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,125 shares of the company’s stock after purchasing an additional 1,750 shares during the period. Harbour Capital Advisors LLC’s holdings in Blue Bird were worth $677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Covestor Ltd purchased a new stake in Blue Bird during the 1st quarter valued at $29,000. Macroview Investment Management LLC bought a new position in shares of Blue Bird during the second quarter valued at about $29,000. nVerses Capital LLC purchased a new stake in shares of Blue Bird during the third quarter worth about $53,000. Quarry LP grew its stake in shares of Blue Bird by 43.9% in the second quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after purchasing an additional 358 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Blue Bird in the second quarter worth about $81,000. Institutional investors own 93.59% of the company’s stock.

Insiders Place Their Bets

In other Blue Bird news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the sale, the president now directly owns 80,617 shares in the company, valued at approximately $4,015,532.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Britton Smith sold 2,508 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total value of $124,923.48. Following the transaction, the president now directly owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phil Horlock sold 16,080 shares of Blue Bird stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.34, for a total value of $761,227.20. Following the completion of the sale, the chief executive officer now directly owns 331,971 shares of the company’s stock, valued at approximately $15,715,507.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,240 shares of company stock valued at $2,725,146. 2.10% of the stock is currently owned by corporate insiders.

Blue Bird Trading Down 0.7 %

Shares of NASDAQ BLBD opened at $45.38 on Friday. Blue Bird Co. has a 1 year low of $17.59 and a 1 year high of $59.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 0.66. The firm has a 50-day moving average of $47.93 and a 200 day moving average of $47.55. The stock has a market cap of $1.47 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 0.21 and a beta of 1.60.

Blue Bird (NASDAQ:BLBD – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.42. The firm had revenue of $333.37 million during the quarter, compared to analyst estimates of $330.00 million. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. During the same period last year, the business earned $0.42 earnings per share. As a group, sell-side analysts expect that Blue Bird Co. will post 3.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Thursday, October 3rd. BTIG Research assumed 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. DA Davidson lifted their price target on shares of Blue Bird from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. Roth Capital downgraded shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, Bank of America raised their target price on shares of Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.00.

Get Our Latest Analysis on Blue Bird

About Blue Bird

(Free Report)

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.

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