Blue Bird (NASDAQ:BLBD) CFO Razvan Radulescu Sells 6,709 Shares

Key Points

• Blue Bird CFO Razvan Radulescu sold 6,709 shares of the company at an average price of $57.41, totaling approximately $385,163.69, reducing his ownership by 14.12%.
• Blue Bird reported a strong quarterly performance, with earnings per share of $1.19, surpassing estimates, and revenue of $398.01 million, a 19.4% increase year-over-year.
• Brokerage upgrades for Blue Bird include a target price increase by Needham & Company from $49.00 to $53.00, with multiple firms upgrading the stock to a strong-buy rating.

Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) CFO Razvan Radulescu sold 6,709 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $57.41, for a total value of $385,163.69. Following the completion of the sale, the chief financial officer directly owned 40,794 shares in the company, valued at approximately $2,341,983.54. The trade was a 14.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, August 8th, Razvan Radulescu sold 700 shares of Blue Bird stock. The stock was sold at an average price of $60.02, for a total value of $42,014.00.
• 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 stock was sold at an average price of $45.19, for a total value of $451,900.00.

Blue Bird Stock Up 0.0%

Shares of NASDAQ:BLBD traded up $0.02 during trading on Wednesday, hitting $56.91. The company's stock had a trading volume of 124,908 shares, compared to its average volume of 570,437. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 1.58. Blue Bird Corporation has a fifty-two week low of $30.04 and a fifty-two week high of $60.45. The stock's 50-day moving average price is $48.95 and its two-hundred day moving average price is $40.86. The company has a market capitalization of $1.80 billion, a PE ratio of 16.30, a PEG ratio of 1.71 and a beta of 1.62.

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 for the quarter, beating the consensus estimate of $0.90 by $0.29. The firm had revenue of $398.01 million during the quarter, compared to analyst estimates of $377.64 million. Blue Bird had a return on equity of 61.66% and a net margin of 8.16%.Blue Bird's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. As a group, sell-side analysts expect that Blue Bird Corporation will post 3.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BLBD. Needham & Company LLC lifted their target price on Blue Bird from $49.00 to $53.00 and gave the company 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 research note on Saturday, August 9th. Zacks Research upgraded Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, Barclays reduced their price objective on Blue Bird from $54.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Blue Bird presently has an average rating of "Moderate Buy" and an average price target of $57.36.

Institutional Investors Weigh In On Blue Bird

A number of institutional investors have recently added to or reduced their stakes in BLBD. University of Texas Texas AM Investment Management Co. acquired a new stake in Blue Bird in the second quarter worth approximately $29,000. Dunhill Financial LLC lifted its position in Blue Bird by 100.0% in the fourth quarter. Dunhill Financial LLC now owns 1,000 shares of the company's stock worth $39,000 after purchasing an additional 500 shares during the period. Nisa Investment Advisors LLC lifted its position in Blue Bird by 159.9% in the second quarter. Nisa Investment Advisors LLC now owns 993 shares of the company's stock worth $43,000 after purchasing an additional 611 shares during the period. US Bancorp DE lifted its position in Blue Bird by 440.1% in the first quarter. US Bancorp DE now owns 1,442 shares of the company's stock worth $47,000 after purchasing an additional 1,175 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Blue Bird by 30.9% in the first quarter. NewEdge Advisors LLC now owns 2,885 shares of the company's stock worth $93,000 after purchasing an additional 681 shares during the period. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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