Quarry LP Decreases Position in Blue Bird Co. (NASDAQ:BLBD)

Quarry LP decreased its stake in Blue Bird Co. (NASDAQ:BLBD) by 30.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 814 shares of the company’s stock after selling 360 shares during the period. Quarry LP’s holdings in Blue Bird were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Savant Capital LLC grew its holdings in shares of Blue Bird by 3.4% during the second quarter. Savant Capital LLC now owns 11,473 shares of the company’s stock worth $618,000 after buying an additional 382 shares during the last quarter. Macroview Investment Management LLC acquired a new stake in shares of Blue Bird in the 2nd quarter valued at approximately $29,000. Townsquare Capital LLC increased its holdings in shares of Blue Bird by 9.3% in the 3rd quarter. Townsquare Capital LLC now owns 8,235 shares of the company’s stock valued at $395,000 after purchasing an additional 700 shares in the last quarter. Creative Planning boosted its stake in shares of Blue Bird by 13.5% during the 3rd quarter. Creative Planning now owns 5,937 shares of the company’s stock worth $285,000 after acquiring an additional 707 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Blue Bird in the 3rd quarter worth approximately $35,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Trading Up 3.3 %

NASDAQ:BLBD opened at $41.35 on Thursday. The firm has a market capitalization of $1.33 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.01 and a beta of 1.59. The business has a 50 day simple moving average of $41.79 and a 200 day simple moving average of $47.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.83. Blue Bird Co. has a 12-month low of $23.17 and a 12-month high of $59.40.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLBD. 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. Craig Hallum upped their price objective on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of Blue Bird in a report on Tuesday, November 26th. BTIG Research began coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 price objective for the company. Finally, StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Blue Bird has an average rating of “Moderate Buy” and an average target price of $60.64.

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.