Prudential Financial Inc. Lowers Stock Holdings in Blue Bird Co. (NASDAQ:BLBD)

Prudential Financial Inc. cut its stake in shares of Blue Bird Co. (NASDAQ:BLBD) by 7.2% in the 4th quarter, Holdings Channel reports. The fund owned 29,780 shares of the company’s stock after selling 2,296 shares during the quarter. Prudential Financial Inc.’s holdings in Blue Bird were worth $1,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BLBD. National Bank of Canada FI acquired a new position in shares of Blue Bird in the third quarter valued at approximately $26,000. KBC Group NV grew its position in Blue Bird by 75.3% in the 4th quarter. KBC Group NV now owns 1,420 shares of the company’s stock valued at $55,000 after buying an additional 610 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in Blue Bird by 15.7% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 4,729 shares of the company’s stock valued at $183,000 after buying an additional 640 shares during the period. Hohimer Wealth Management LLC acquired a new position in Blue Bird in the 3rd quarter valued at $244,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Blue Bird by 14.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the company’s stock worth $276,000 after buying an additional 744 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blue Bird

In related news, CFO Razvan Radulescu sold 2,848 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $38.12, for a total value of $108,565.76. Following the sale, the chief financial officer now owns 88,664 shares of the company’s stock, valued at approximately $3,379,871.68. This represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BLBD has been the topic of a number of analyst reports. StockNews.com raised Blue Bird from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC decreased their price target on Blue Bird from $66.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.21.

Blue Bird Price Performance

Shares of NASDAQ:BLBD opened at $32.43 on Monday. Blue Bird Co. has a 12 month low of $30.04 and a 12 month high of $59.40. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38. The business’s 50 day simple moving average is $34.99 and its 200-day simple moving average is $39.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.44 and a quick ratio of 0.73.

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

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.