Olstein Capital Management L.P. Has $3.53 Million Position in Blue Bird Co. (NASDAQ:BLBD)

Olstein Capital Management L.P. reduced its position in shares of Blue Bird Co. (NASDAQ:BLBD) by 35.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,000 shares of the company’s stock after selling 51,580 shares during the period. Olstein Capital Management L.P. owned about 0.29% of Blue Bird worth $3,527,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BLBD. Allspring Global Investments Holdings LLC lifted its position in shares of Blue Bird by 2,177.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 55,342 shares of the company’s stock valued at $2,122,000 after buying an additional 52,912 shares during the last quarter. Oliver Luxxe Assets LLC lifted its position in shares of Blue Bird by 35.8% in the first quarter. Oliver Luxxe Assets LLC now owns 44,730 shares of the company’s stock valued at $1,715,000 after buying an additional 11,793 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Blue Bird in the fourth quarter valued at approximately $1,702,000. Virtu Financial LLC acquired a new stake in shares of Blue Bird in the fourth quarter valued at approximately $370,000. Finally, Brightline Capital Management LLC acquired a new stake in shares of Blue Bird in the fourth quarter valued at approximately $7,279,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Blue Bird Price Performance

Blue Bird stock traded up $0.90 during mid-day trading on Wednesday, reaching $48.34. 359,105 shares of the company were exchanged, compared to its average volume of 561,398. The company has a fifty day simple moving average of $49.96 and a 200-day simple moving average of $37.80. Blue Bird Co. has a 12 month low of $17.59 and a 12 month high of $59.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.56. The firm has a market cap of $1.56 billion, a PE ratio of 19.21, a PEG ratio of 0.44 and a beta of 1.63.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.52. Blue Bird had a return on equity of 154.10% and a net margin of 6.36%. The firm had revenue of $345.92 million for the quarter, compared to analyst estimates of $315.00 million. As a group, equities research analysts expect that Blue Bird Co. will post 2.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Roth Mkm raised their price objective on Blue Bird from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Barclays increased their target price on Blue Bird from $35.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Craig Hallum increased their target price on Blue Bird from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Needham & Company LLC increased their target price on Blue Bird from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, DA Davidson increased their target price on Blue Bird from $44.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $49.25.

About Blue Bird

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.