Razvan Radulescu Sells 10,000 Shares of Blue Bird Corporation (NASDAQ:BLBD) Stock

Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) CFO Razvan Radulescu sold 10,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $45.19, for a total value of $451,900.00. Following the transaction, the chief financial officer directly owned 58,203 shares in the company, valued at approximately $2,630,193.57. This represents a 14.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Blue Bird Trading Down 1.2%

NASDAQ BLBD traded down $0.54 during trading on Friday, reaching $44.95. 268,774 shares of the stock traded hands, compared to its average volume of 616,290. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.13 and a beta of 1.41. Blue Bird Corporation has a fifty-two week low of $30.04 and a fifty-two week high of $55.60. The company has a quick ratio of 0.73, a current ratio of 1.45 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average price is $41.24 and its 200 day moving average price is $37.88.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Blue Bird had a return on equity of 64.83% and a net margin of 7.97%. The company had revenue of $358.85 million during the quarter, compared to the consensus estimate of $348.23 million. During the same period in the prior year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that Blue Bird Corporation will post 3.86 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays cut their price target on Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $49.00 target price on shares of Blue Bird in a research note on Tuesday, May 27th. Wall Street Zen cut shares of Blue Bird from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, DA Davidson cut their price objective on shares of Blue Bird from $67.00 to $61.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Blue Bird currently has an average rating of "Moderate Buy" and a consensus target price of $56.79.

Institutional Investors Weigh In On Blue Bird

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Blue Bird by 1,879.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 196,739 shares of the company's stock valued at $6,479,000 after purchasing an additional 186,799 shares in the last quarter. Perpetual Ltd lifted its position in shares of Blue Bird by 96.0% in the first quarter. Perpetual Ltd now owns 13,303 shares of the company's stock worth $431,000 after purchasing an additional 6,517 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Blue Bird by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,426,912 shares of the company's stock worth $93,752,000 after purchasing an additional 25,745 shares in the last quarter. Insight Wealth Strategies LLC boosted its holdings in Blue Bird by 36.5% during the first quarter. Insight Wealth Strategies LLC now owns 81,379 shares of the company's stock worth $2,634,000 after purchasing an additional 21,769 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Blue Bird by 13.6% in the fourth quarter. Wellington Management Group LLP now owns 1,335,122 shares of the company's stock valued at $51,576,000 after purchasing an additional 160,248 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

Blue Bird Company Profile

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.