Freedom Investment Management Inc. Purchases Shares of 8,069 Blue Bird Co. (NASDAQ:BLBD)

Freedom Investment Management Inc. acquired a new position in shares of Blue Bird Co. (NASDAQ:BLBD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,069 shares of the company’s stock, valued at approximately $387,000.

Other large investors have also recently made changes to their positions in the company. Macroview Investment Management LLC bought a new stake in Blue Bird during the second quarter worth $29,000. Truvestments Capital LLC purchased a new position in Blue Bird during the 3rd quarter worth $35,000. Private Trust Co. NA bought a new stake in shares of Blue Bird in the 3rd quarter worth $38,000. nVerses Capital LLC purchased a new stake in shares of Blue Bird in the third quarter valued at about $53,000. Finally, Quarry LP lifted its position in shares of Blue Bird by 43.9% during the second quarter. Quarry LP now owns 1,174 shares of the company’s stock valued at $63,000 after purchasing an additional 358 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLBD. StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Roth Capital lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. DA Davidson lifted their price target on Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of Blue Bird in a research note on Tuesday, November 26th. Finally, Craig Hallum raised their target price on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.64.

Insider Buying and Selling

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 shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the sale, the president now directly owns 80,617 shares in the company, valued at approximately $4,015,532.77. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by insiders.

Blue Bird Stock Performance

Shares of BLBD opened at $40.65 on Friday. Blue Bird Co. has a 1 year low of $18.33 and a 1 year high of $59.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.37 and a quick ratio of 0.66. The stock’s fifty day moving average price is $43.23 and its two-hundred day moving average price is $48.51. The firm has a market cap of $1.31 billion, a PE ratio of 12.78, a PEG ratio of 1.10 and a beta of 1.62.

Blue Bird Company 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.