Phil Horlock Sells 30,000 Shares of Blue Bird Corporation (NASDAQ:BLBD) Stock

Key Points

• Phil Horlock, a director at Blue Bird Corporation, sold 30,000 shares of stock at an average price of $60.00, resulting in a total transaction of $1.8 million, reducing his ownership by 11.08%.
• Blue Bird's stock has experienced a significant increase in revenue, reporting $398.01 million for the quarter, which is a 19.4% year-over-year increase.
• Analysts have set an average target price of $57.36 for Blue Bird shares, with the company receiving several upgrades and a typical rating of "Moderate Buy".

Blue Bird Corporation (NASDAQ:BLBD - Get Free Report) Director Phil Horlock sold 30,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $60.00, for a total transaction of $1,800,000.00. Following the sale, the director directly owned 240,766 shares of the company's stock, valued at $14,445,960. The trade was a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Phil Horlock also recently made the following trade(s):

• On Tuesday, June 10th, Phil Horlock sold 8,860 shares of Blue Bird stock. The shares were sold at an average price of $41.04, for a total transaction of $363,614.40.
• On Wednesday, June 11th, Phil Horlock sold 13,289 shares of Blue Bird stock. The stock was sold at an average price of $41.70, for a total transaction of $554,151.30.

Blue Bird Price Performance

Shares of NASDAQ:BLBD traded down $0.35 during midday trading on Monday, reaching $54.99. 221,346 shares of the company were exchanged, compared to its average volume of 557,925. 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 business's fifty day moving average is $43.56 and its two-hundred day moving average is $38.50. Blue Bird Corporation has a one year low of $30.04 and a one year high of $60.45. The stock has a market cap of $1.74 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.50.

Blue Bird (NASDAQ:BLBD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.29. Blue Bird had a net margin of 8.16% and a return on equity of 61.66%. The firm had revenue of $398.01 million during the quarter, compared to analyst estimates 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. As a group, analysts predict that Blue Bird Corporation will post 3.86 earnings per share for the current year.

Institutional Investors Weigh In On Blue Bird

A number of hedge funds have recently bought and sold shares of BLBD. LPL Financial LLC raised its stake in Blue Bird by 39.0% during the fourth quarter. LPL Financial LLC now owns 23,513 shares of the company's stock valued at $908,000 after purchasing an additional 6,600 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Blue Bird by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 306,286 shares of the company's stock valued at $11,832,000 after purchasing an additional 5,109 shares in the last quarter. Geode Capital Management LLC raised its stake in Blue Bird by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 765,490 shares of the company's stock valued at $29,578,000 after purchasing an additional 13,262 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Blue Bird by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 59,365 shares of the company's stock valued at $2,293,000 after purchasing an additional 2,357 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Blue Bird by 162.8% in the fourth quarter. FMR LLC now owns 4,840,198 shares of the company's stock valued at $186,977,000 after acquiring an additional 2,998,453 shares during the period. Hedge funds and other institutional investors own 93.59% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on BLBD shares. Needham & Company LLC lifted their price target on shares of Blue Bird from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday. DA Davidson reduced their price target on shares of Blue Bird from $67.00 to $61.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Barclays reduced their price target 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, Wall Street Zen upgraded shares of Blue Bird from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Two 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, Blue Bird has an average rating of "Moderate Buy" and an average target price 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.

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