Insider Selling: Blue Bird Co. (NASDAQ:BLBD) President Sells 2,508 Shares of Stock

Blue Bird Co. (NASDAQ:BLBD) President Britton Smith sold 2,508 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.81, for a total transaction of $124,923.48. Following the completion of the transaction, the president now directly owns 80,617 shares in the company, valued at $4,015,532.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Britton Smith also recently made the following trade(s):

• On Monday, August 19th, Britton Smith sold 2,508 shares of Blue Bird stock. The stock was sold at an average price of $48.00, for a total transaction of $120,384.00.

Blue Bird Price Performance

Shares of NASDAQ BLBD traded up $1.30 during mid-day trading on Friday, hitting $50.64. 330,821 shares of the stock were exchanged, compared to its average volume of 560,290. The company has a market cap of $1.64 billion, a P/E ratio of 19.98, a PEG ratio of 0.25 and a beta of 1.61. The stock’s fifty day simple moving average is $49.01 and its two-hundred day simple moving average is $45.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.66 and a current ratio of 1.40. Blue Bird Co. has a twelve month low of $17.59 and a twelve month high of $59.40.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.42. Blue Bird had a net margin of 7.65% and a return on equity of 116.23%. The business had revenue of $333.37 million during the quarter, compared to analyst estimates of $330.00 million. During the same quarter last year, the business posted $0.42 earnings per share. As a group, analysts forecast that Blue Bird Co. will post 3.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BLBD shares. DA Davidson upped their price objective on shares of Blue Bird from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Bank of America upped their price objective on shares of Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Craig Hallum upped their price target on shares of Blue Bird from $54.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 24th. Barclays upped their price target on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Blue Bird in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Blue Bird has an average rating of “Moderate Buy” and an average target price of $61.17.

Hedge Funds Weigh In On Blue Bird

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP boosted its position in shares of Blue Bird by 43.9% during the second quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after purchasing an additional 358 shares in the last quarter. Creative Planning bought a new position in shares of Blue Bird during the second quarter worth $282,000. Algert Global LLC boosted its position in shares of Blue Bird by 360.0% during the second quarter. Algert Global LLC now owns 105,651 shares of the company’s stock worth $5,689,000 after purchasing an additional 82,681 shares in the last quarter. Scientech Research LLC bought a new position in shares of Blue Bird during the second quarter worth $976,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Blue Bird by 26.0% during the second quarter. The Manufacturers Life Insurance Company now owns 12,089 shares of the company’s stock worth $651,000 after purchasing an additional 2,491 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

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.