Lord Abbett & CO. LLC Has $15.72 Million Position in Blue Bird Co. (NASDAQ:BLBD)

Lord Abbett & CO. LLC grew its holdings in Blue Bird Co. (NASDAQ:BLBD) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 327,857 shares of the company’s stock after acquiring an additional 7,770 shares during the period. Lord Abbett & CO. LLC’s holdings in Blue Bird were worth $15,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BLBD. National Bank of Canada FI acquired a new stake in Blue Bird in the 3rd quarter valued at $26,000. Macroview Investment Management LLC acquired a new position in Blue Bird in the second quarter valued at about $29,000. Truvestments Capital LLC bought a new stake in Blue Bird during the third quarter worth about $35,000. Private Trust Co. NA acquired a new stake in shares of Blue Bird during the third quarter worth approximately $38,000. Finally, nVerses Capital LLC bought a new position in Blue Bird in the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Trading Up 3.7 %

Shares of NASDAQ:BLBD opened at $43.71 on Monday. The business’s 50 day simple moving average is $41.79 and its 200 day simple moving average is $47.57. The company has a market capitalization of $1.41 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.05 and a beta of 1.59. 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 1 year low of $23.76 and a 1 year high of $59.40.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BLBD shares. StockNews.com upgraded shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Craig Hallum lifted their price target on shares of Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Bank of America cut their target price on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of Blue Bird in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock 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.