JPMorgan Chase & Co. Buys 108,168 Shares of Blue Bird Corporation $BLBD

JPMorgan Chase & Co. raised its stake in Blue Bird Corporation (NASDAQ:BLBD) by 50.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,162 shares of the company’s stock after buying an additional 108,168 shares during the period. JPMorgan Chase & Co. owned about 1.02% of Blue Bird worth $13,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of Blue Bird by 1,394.9% in the first quarter. American Century Companies Inc. now owns 1,619,494 shares of the company’s stock valued at $52,423,000 after purchasing an additional 1,511,158 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Blue Bird by 1.8% in the 1st quarter. Wellington Management Group LLP now owns 1,358,691 shares of the company’s stock worth $43,981,000 after buying an additional 23,569 shares during the period. Alliancebernstein L.P. grew its position in shares of Blue Bird by 13.6% during the 1st quarter. Alliancebernstein L.P. now owns 936,495 shares of the company’s stock worth $30,314,000 after buying an additional 112,197 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Blue Bird by 27.9% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 823,096 shares of the company’s stock valued at $35,525,000 after buying an additional 179,500 shares during the period. Finally, Neumeier Poma Investment Counsel LLC raised its holdings in shares of Blue Bird by 3.9% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 447,430 shares of the company’s stock valued at $19,311,000 after acquiring an additional 16,765 shares in the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Trading Up 0.7%

NASDAQ:BLBD opened at $51.27 on Friday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.43 and a beta of 1.42. Blue Bird Corporation has a 52 week low of $30.04 and a 52 week high of $61.95. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $53.04 and a 200 day moving average of $50.09.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings results on Monday, November 24th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.35. Blue Bird had a return on equity of 62.87% and a net margin of 8.63%.The business had revenue of $409.37 million for the quarter, compared to the consensus estimate of $380.37 million. During the same period in the prior year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was up 16.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Blue Bird Corporation will post 3.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on BLBD shares. BTIG Research reiterated a “buy” rating and set a $65.00 target price on shares of Blue Bird in a report on Tuesday, November 25th. UBS Group reiterated a “buy” rating on shares of Blue Bird in a research note on Monday, November 3rd. DA Davidson boosted their price objective on shares of Blue Bird from $70.00 to $76.00 and gave the stock 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 report on Tuesday, November 25th. Finally, 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 report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Blue Bird has an average rating of “Moderate Buy” and an average price target of $64.60.

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.