SummerHaven Investment Management LLC Purchases New Holdings in Blue Bird Corporation $BLBD

SummerHaven Investment Management LLC acquired a new position in Blue Bird Corporation (NASDAQ:BLBD) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 18,633 shares of the company’s stock, valued at approximately $1,072,000. Blue Bird comprises approximately 0.6% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 25th largest position. SummerHaven Investment Management LLC owned 0.06% of Blue Bird as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ZWJ Investment Counsel Inc. acquired a new stake in Blue Bird in the second quarter worth about $259,000. Neumeier Poma Investment Counsel LLC boosted its stake in shares of Blue Bird by 3.9% in the 2nd quarter. Neumeier Poma Investment Counsel LLC now owns 447,430 shares of the company’s stock valued at $19,311,000 after purchasing an additional 16,765 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Blue Bird by 50.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 324,162 shares of the company’s stock worth $13,991,000 after buying an additional 108,168 shares during the period. SG Americas Securities LLC bought a new stake in shares of Blue Bird during the second quarter worth approximately $376,000. Finally, Pacer Advisors Inc. acquired a new position in Blue Bird in the third quarter valued at approximately $6,359,000. 93.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on BLBD shares. UBS Group reaffirmed a “buy” rating on shares of Blue Bird in a report on Monday, November 3rd. Bank of America increased their target price on Blue Bird from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of Blue Bird in a research report on Tuesday, November 25th. BTIG Research reiterated a “buy” rating and issued a $65.00 price target on shares of Blue Bird in a research report on Tuesday, November 25th. Finally, DA Davidson boosted their price objective on shares of Blue Bird from $70.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.60.

Insider Transactions at Blue Bird

In other Blue Bird news, CFO Razvan Radulescu sold 7,984 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $50.39, for a total transaction of $402,313.76. Following the completion of the transaction, the chief financial officer owned 49,087 shares of the company’s stock, valued at $2,473,493.93. This represents a 13.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Phil Horlock sold 15,381 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $50.42, for a total transaction of $775,510.02. Following the transaction, the director directly owned 225,385 shares of the company’s stock, valued at $11,363,911.70. This represents a 6.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Blue Bird Stock Up 1.3%

Shares of Blue Bird stock opened at $50.61 on Wednesday. The company has a market capitalization of $1.60 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 2.37 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.15. The business has a 50-day moving average of $50.25 and a two-hundred day moving average of $52.20. Blue Bird Corporation has a 1 year low of $30.04 and a 1 year high of $61.95.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings data on Monday, November 24th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.35. The business had revenue of $409.37 million during the quarter, compared to analyst estimates of $380.37 million. Blue Bird had a return on equity of 62.87% and a net margin of 8.63%.Blue Bird’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. As a group, equities analysts predict that Blue Bird Corporation will post 3.86 EPS for the current year.

Blue Bird Company Profile

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.