Key Points
- Blue Bird CFO Razvan Radulescu sold 7,984 shares on Dec. 10 at an average price of $50.39 for proceeds of $402,313.76, reducing his stake by 13.99% to 49,087 shares valued around $2.47M.
- Company performance and analyst sentiment remain upbeat: Blue Bird topped quarterly estimates with $1.32 EPS (vs. $0.97) and $409.37M revenue (vs. $380.37M), and six analysts rate the stock Buy with an average target of $64.60.
Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) CFO Razvan Radulescu sold 7,984 shares of Blue Bird stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $50.39, for a total value of $402,313.76. Following the sale, the chief financial officer directly owned 49,087 shares of the company's stock, valued at $2,473,493.93. This trade represents a 13.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Blue Bird Trading Up 0.5%
NASDAQ BLBD opened at $50.91 on Thursday. The company has a market capitalization of $1.61 billion, a PE ratio of 13.12, a P/E/G ratio of 2.40 and a beta of 1.42. Blue Bird Corporation has a 1 year low of $30.04 and a 1 year high of $61.95. The company has a fifty day moving average of $52.67 and a 200 day moving average of $50.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.15.
Blue Bird (NASDAQ:BLBD - Get Free Report) last announced 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 the consensus estimate of $380.37 million. Blue Bird had a net margin of 8.63% and a return on equity of 62.87%. The firm's quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. Research analysts forecast that Blue Bird Corporation will post 3.86 earnings per share for the current year.
Institutional Investors Weigh In On Blue Bird
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLBD. Tudor Investment Corp ET AL acquired a new position in shares of Blue Bird in the 3rd quarter valued at $10,932,000. JPMorgan Chase & Co. raised its holdings in Blue Bird by 185.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 925,852 shares of the company's stock valued at $53,283,000 after buying an additional 601,690 shares during the period. Danske Bank A S purchased a new position in Blue Bird during the third quarter worth about $822,000. Caitong International Asset Management Co. Ltd increased its position in shares of Blue Bird by 10,028.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock valued at $41,000 after acquiring an additional 702 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Blue Bird in the 3rd quarter worth approximately $1,757,000. Hedge funds and other institutional investors own 93.59% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on BLBD. Bank of America lifted their price target on Blue Bird from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, November 25th. UBS Group restated a "buy" rating on shares of Blue Bird in a research report on Monday, November 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price objective on shares of Blue Bird in a report on Tuesday, November 25th. Zacks Research cut Blue Bird from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 7th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $65.00 target price on shares of Blue Bird in a research note on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $64.60.
View Our Latest Research Report on Blue Bird
About Blue Bird
(
Get Free Report)
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.
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