Blue Bird Corporation $BLBD Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. lowered its stake in shares of Blue Bird Corporation (NASDAQ:BLBD) by 22.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 640,353 shares of the company’s stock after selling 182,743 shares during the period. Blue Bird comprises 1.8% of Deroy & Devereaux Private Investment Counsel Inc.’s portfolio, making the stock its 12th largest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Blue Bird were worth $36,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. acquired a new stake in shares of Blue Bird in the 2nd quarter worth approximately $259,000. Neumeier Poma Investment Counsel LLC boosted its position in Blue Bird by 3.9% during the second quarter. Neumeier Poma Investment Counsel LLC now owns 447,430 shares of the company’s stock worth $19,311,000 after purchasing an additional 16,765 shares in the last quarter. Congress Asset Management Co. acquired a new stake in Blue Bird in the second quarter valued at $2,684,000. Three Seasons Wealth LLC purchased a new position in shares of Blue Bird in the second quarter valued at $506,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Blue Bird by 50.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 324,162 shares of the company’s stock worth $13,991,000 after buying an additional 108,168 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Price Performance

BLBD stock opened at $49.34 on Friday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.32 and a beta of 1.43. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. Blue Bird Corporation has a 52-week low of $30.04 and a 52-week high of $61.95. The stock’s fifty day simple moving average is $50.48 and its 200-day simple moving average is $51.84.

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. The firm had revenue of $409.37 million for the quarter, compared to analyst estimates of $380.37 million. Blue Bird had a return on equity of 62.87% and a net margin of 8.63%.The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. Equities research analysts expect that Blue Bird Corporation will post 3.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BLBD. Bank of America increased their price objective on shares of Blue Bird from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. UBS Group reiterated a “buy” rating on shares of Blue Bird in a research report on Monday, November 3rd. BTIG Research restated a “buy” rating and set a $65.00 price objective on shares of Blue Bird in a research report on Tuesday, November 25th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Blue Bird in a report on Tuesday, November 25th. Finally, DA Davidson raised their price target on Blue Bird from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.60.

Insiders Place Their Bets

In other news, Director Phil Horlock sold 15,381 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $50.42, for a total transaction of $775,510.02. Following the completion of the sale, the director directly owned 225,385 shares of the company’s stock, valued at $11,363,911.70. The trade was a 6.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Razvan Radulescu sold 7,984 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $50.39, for a total value of $402,313.76. Following the completion of the transaction, the chief financial officer directly owned 49,087 shares in the company, valued at $2,473,493.93. This trade represents a 13.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Blue Bird Profile

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.