Insider Selling: Blue Bird (NASDAQ:BLBD) COO Sells 4,000 Shares of Stock

Key Points

• Blue Bird COO Jeffrey Sanfrey sold 4,000 shares at an average price of $62.40, generating $249,600. His remaining direct stake fell 10.25% to 35,011 shares.
• Blue Bird recently exceeded quarterly expectations, reporting $1.28 in adjusted EPS and $517.16 million in revenue versus estimates of $1.25 and $485.73 million, respectively.
• Despite the insider sale and a recent “hold” downgrade, analysts maintain a consensus “Buy” rating with an $85.33 price target, well above the stock’s reported $60.94 price.

Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) COO Jeffrey Sanfrey sold 4,000 shares of the firm's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $62.40, for a total value of $249,600.00. Following the transaction, the chief operating officer directly owned 35,011 shares in the company, valued at approximately $2,184,686.40. This represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Blue Bird Price Performance

NASDAQ BLBD traded up $0.14 on Friday, reaching $60.94. 87,458 shares of the company's stock traded hands, compared to its average volume of 468,385. The stock has a market cap of $1.93 billion, a PE ratio of 7.41, a P/E/G ratio of 0.80 and a beta of 1.36. The stock has a 50-day simple moving average of $67.96 and a 200 day simple moving average of $66.46. Blue Bird Corporation has a 12 month low of $46.14 and a 12 month high of $83.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. Blue Bird had a return on equity of 39.97% and a net margin of 17.48%.The firm had revenue of $517.16 million for the quarter, compared to the consensus estimate of $485.73 million. As a group, research analysts predict that Blue Bird Corporation will post 4.68 earnings per share for the current year.

Hedge Funds Weigh In On Blue Bird

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kilter Group LLC bought a new stake in Blue Bird in the 2nd quarter worth about $25,000. Nykredit A S bought a new position in Blue Bird during the second quarter valued at approximately $36,000. Dunhill Financial LLC purchased a new stake in Blue Bird in the second quarter worth approximately $39,000. GAMMA Investing LLC grew its position in Blue Bird by 85.5% in the 2nd quarter. GAMMA Investing LLC now owns 629 shares of the company's stock worth $50,000 after purchasing an additional 290 shares during the period. Finally, Persistent Asset Partners Ltd bought a new position in shares of Blue Bird during the 2nd quarter valued at $57,000. 93.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLBD. Wall Street Zen cut Blue Bird from a "buy" rating to a "hold" rating in a research note on Saturday, September 5th. Barclays boosted their price objective on shares of Blue Bird from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $86.00 target price on shares of Blue Bird in a research note on Thursday, August 6th. BTIG Research upped their price target on Blue Bird from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Zacks Research raised Blue Bird from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $85.33.

About Blue Bird

Blue Bird Corporation designs and manufactures school buses for public and private school districts, pupil transportation operators and other organizations. Its product portfolio includes conventional Type C buses, transit-style Type D buses and smaller buses, with powertrain options that include electric, propane and gasoline.

The company also provides replacement parts and support services for its buses through a network of dealers and service locations. Blue Bird emphasizes alternative-fuel and zero-emission transportation solutions, including battery-electric school buses, alongside conventional products.

Founded in 1927, Blue Bird is headquartered in Macon, Georgia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.