Blue Bird (NASDAQ:BLBD) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Blue Bird (NASDAQ:BLBD) released its earnings results on Wednesday. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03, Zacks reports. Blue Bird had a return on equity of 91.12% and a net margin of 7.83%.

Blue Bird Trading Down 1.2 %

BLBD traded down $0.43 during midday trading on Wednesday, hitting $35.73. 1,260,130 shares of the company were exchanged, compared to its average volume of 736,716. The firm has a market capitalization of $1.15 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.90 and a beta of 1.56. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. Blue Bird has a 1-year low of $29.00 and a 1-year high of $59.40. The firm’s 50 day moving average price is $40.16 and its 200-day moving average price is $44.12.

Wall Street Analyst Weigh In

BLBD has been the subject of a number of analyst reports. StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Bank of America cut their target price on Blue Bird from $66.00 to $63.50 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Craig Hallum upped their price target on Blue Bird from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BTIG Research initiated coverage on Blue Bird in a research note on Wednesday, October 9th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of Blue Bird in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blue Bird presently has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Insiders Place Their Bets

In related news, CFO Razvan Radulescu sold 19,171 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.89, for a total transaction of $822,244.19. Following the transaction, the chief financial officer now directly owns 89,347 shares in the company, valued at approximately $3,832,092.83. The trade was a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.