Blue Bird Corporation (NASDAQ:BLBD) CFO Razvan Radulescu Sells 700 Shares

Key Points

• Blue Bird Corporation CFO Razvan Radulescu sold 700 shares at an average price of $60.02 on August 8th, reducing his stake by 1.45%.
• The company reported $1.19 EPS for the quarter ending August 6th, exceeding the consensus estimate of $0.90, with a 19.4% revenue increase year-over-year.
• Recently, several hedge funds have increased their holdings, with institutional investors now owning 93.59% of the company's stock.

Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) CFO Razvan Radulescu sold 700 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $60.02, for a total value of $42,014.00. Following the transaction, the chief financial officer owned 47,503 shares of the company's stock, valued at approximately $2,851,130.06. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Razvan Radulescu also recently made the following trade(s):

• On Thursday, August 7th, Razvan Radulescu sold 10,000 shares of Blue Bird stock. The shares were sold at an average price of $53.21, for a total value of $532,100.00.
• On Tuesday, July 8th, Razvan Radulescu sold 10,000 shares of Blue Bird stock. The shares were sold at an average price of $45.19, for a total value of $451,900.00.

Blue Bird Price Performance

Blue Bird stock traded up $0.93 during trading hours on Friday, hitting $57.37. 764,718 shares of the stock were exchanged, compared to its average volume of 742,276. Blue Bird Corporation has a 12 month low of $30.04 and a 12 month high of $60.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 1.58. The business's 50-day moving average is $45.26 and its two-hundred day moving average is $39.13. The stock has a market capitalization of $1.82 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.65 and a beta of 1.50.

Blue Bird (NASDAQ:BLBD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.29. The firm had revenue of $398.01 million for the quarter, compared to analysts' expectations of $377.64 million. Blue Bird had a net margin of 8.16% and a return on equity of 61.66%. The business's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Equities research analysts expect that Blue Bird Corporation will post 3.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Blue Bird

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Blue Bird by 162.8% during the fourth quarter. FMR LLC now owns 4,840,198 shares of the company's stock worth $186,977,000 after purchasing an additional 2,998,453 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Blue Bird by 24.3% during the first quarter. Westwood Holdings Group Inc. now owns 2,402,214 shares of the company's stock worth $77,760,000 after purchasing an additional 468,936 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Blue Bird by 40.0% during the second quarter. American Century Companies Inc. now owns 2,267,131 shares of the company's stock worth $97,849,000 after purchasing an additional 647,637 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Blue Bird by 1.8% during the first quarter. Wellington Management Group LLP now owns 1,358,691 shares of the company's stock worth $43,981,000 after purchasing an additional 23,569 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Blue Bird by 13.6% during the first quarter. Alliancebernstein L.P. now owns 936,495 shares of the company's stock worth $30,314,000 after acquiring an additional 112,197 shares during the period. 93.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLBD has been the topic of several recent analyst reports. DA Davidson cut their target price on shares of Blue Bird from $67.00 to $61.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Barclays cut their target price on shares of Blue Bird from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen raised shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC boosted their price target on shares of Blue Bird from $49.00 to $53.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.36.

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.