Ruffer LLP Purchases Shares of 72,229 Blue Bird Co. (NASDAQ:BLBD)

Ruffer LLP bought a new position in shares of Blue Bird Co. (NASDAQ:BLBD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 72,229 shares of the company’s stock, valued at approximately $2,790,000. Ruffer LLP owned about 0.22% of Blue Bird at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Axxcess Wealth Management LLC acquired a new stake in Blue Bird in the 3rd quarter worth about $987,000. Principal Financial Group Inc. raised its position in shares of Blue Bird by 60.7% in the third quarter. Principal Financial Group Inc. now owns 58,019 shares of the company’s stock valued at $2,783,000 after buying an additional 21,919 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Blue Bird by 34.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 308,253 shares of the company’s stock valued at $14,784,000 after buying an additional 79,129 shares during the period. Victory Capital Management Inc. grew its position in Blue Bird by 95.9% during the third quarter. Victory Capital Management Inc. now owns 52,216 shares of the company’s stock worth $2,504,000 after buying an additional 25,563 shares in the last quarter. Finally, Encompass More Asset Management bought a new position in Blue Bird during the 4th quarter worth $1,376,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on BLBD. Needham & Company LLC cut their target price on Blue Bird from $66.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Bank of America reduced their price objective on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. StockNews.com cut shares of Blue Bird from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Craig Hallum increased their price target on shares of Blue Bird from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blue Bird currently has an average rating of “Moderate Buy” and an average target price of $58.21.

Insider Activity

In related news, CFO Razvan Radulescu sold 2,848 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $38.12, for a total value of $108,565.76. Following the completion of the transaction, the chief financial officer now owns 88,664 shares in the company, valued at $3,379,871.68. This trade represents a 3.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Blue Bird Price Performance

Shares of NASDAQ:BLBD opened at $33.92 on Friday. Blue Bird Co. has a one year low of $30.67 and a one year high of $59.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.44 and a quick ratio of 0.73. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.84 and a beta of 1.58. The firm has a 50 day simple moving average of $37.60 and a 200 day simple moving average of $41.94.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Blue Bird had a return on equity of 75.22% and a net margin of 8.05%. Research analysts predict that Blue Bird Co. will post 3.86 earnings per share for the current fiscal year.

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.