Insider Selling: Blue Bird (NASDAQ:BLBD) SVP Sells 8,877 Shares of Stock

Key Points

• Ted Scartz, SVP of Blue Bird Corporation, sold 8,877 shares of the company’s stock for a total of $490,187.94, reducing his holdings by 15.40%.
• Blue Bird's stock was down 0.2% to $56.34, with a market capitalization of $1.79 billion and a price-to-earnings ratio of 16.10.
• The company reported $398.01 million in revenue for the last quarter, surpassing estimates and showing a 19.4% year-over-year increase.

Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) SVP Ted Scartz sold 8,877 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $55.22, for a total transaction of $490,187.94. Following the completion of the transaction, the senior vice president owned 48,769 shares in the company, valued at approximately $2,693,024.18. The trade was a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Blue Bird Stock Performance

Shares of BLBD stock traded down $1.46 during trading hours on Tuesday, hitting $57.04. 527,811 shares of the company were exchanged, compared to its average volume of 775,532. The company has a current ratio of 1.58, a quick ratio of 0.92 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.71 and a beta of 1.50. The firm has a fifty day simple moving average of $45.92 and a 200 day simple moving average of $39.44. Blue Bird Corporation has a 52-week low of $30.04 and a 52-week high of $60.45.

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

Analysts Set New Price Targets

BLBD has been the subject of several recent research reports. Wall Street Zen raised Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Needham & Company LLC lifted their target price on shares of Blue Bird from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. DA Davidson dropped their price target 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 price objective on shares of Blue Bird from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Zacks Research raised shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $57.36.

Institutional Investors Weigh In On Blue Bird

Large investors have recently added to or reduced their stakes in the business. PFG Advisors increased its position in shares of Blue Bird by 2.6% in the second quarter. PFG Advisors now owns 9,789 shares of the company's stock worth $422,000 after purchasing an additional 246 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Blue Bird by 0.7% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,132 shares of the company's stock valued at $1,732,000 after purchasing an additional 282 shares during the period. CWM LLC grew its holdings in Blue Bird by 9.3% in the 1st quarter. CWM LLC now owns 3,771 shares of the company's stock worth $122,000 after acquiring an additional 322 shares during the last quarter. Redmond Asset Management LLC raised its holdings in shares of Blue Bird by 1.0% during the second quarter. Redmond Asset Management LLC now owns 34,350 shares of the company's stock valued at $1,483,000 after acquiring an additional 350 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its holdings in shares of Blue Bird by 4.9% during the 4th quarter. Freedom Investment Management Inc. now owns 8,461 shares of the company's stock worth $327,000 after acquiring an additional 392 shares during the period. Institutional investors own 93.59% of the company's stock.

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.