Ted Scartz Sells 8,877 Shares of Blue Bird Corporation (NASDAQ:BLBD) 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 firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $55.22, for a total value of $490,187.94. Following the sale, the senior vice president owned 48,769 shares of the company's stock, valued at approximately $2,693,024.18. This trade represents a 15.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Blue Bird Stock Up 1.7%

NASDAQ:BLBD traded up $1.00 during trading hours on Monday, reaching $58.37. The company had a trading volume of 144,388 shares, compared to its average volume of 563,257. The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The business's 50-day simple moving average is $45.26 and its two-hundred day simple moving average is $39.16. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.68 and a beta of 1.50. Blue Bird Corporation has a twelve month low of $30.04 and a twelve month high of $60.45.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.29. The business 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 firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. On average, equities analysts expect that Blue Bird Corporation will post 3.86 earnings per share for the current year.

Institutional Investors Weigh In On Blue Bird

Several institutional investors and hedge funds have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Blue Bird in the second quarter worth approximately $29,000. Dunhill Financial LLC raised its stake in Blue Bird by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,000 shares of the company's stock valued at $39,000 after purchasing an additional 500 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Blue Bird by 159.9% during the second quarter. Nisa Investment Advisors LLC now owns 993 shares of the company's stock valued at $43,000 after purchasing an additional 611 shares in the last quarter. US Bancorp DE increased its position in Blue Bird by 440.1% during the first quarter. US Bancorp DE now owns 1,442 shares of the company's stock valued at $47,000 after acquiring an additional 1,175 shares during the last quarter. Finally, Quarry LP increased its position in Blue Bird by 55.0% during the fourth quarter. Quarry LP now owns 1,262 shares of the company's stock valued at $49,000 after acquiring an additional 448 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on BLBD. Needham & Company LLC boosted their price objective on Blue Bird from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Blue Bird from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Barclays decreased their target price on shares of Blue Bird from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, DA Davidson reduced their price target on Blue Bird from $67.00 to $61.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Blue Bird presently has an average rating of "Moderate Buy" and an average price target of $57.36.

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.