Separately, Stifel Nicolaus lifted their price objective on shares of Blue Bird Corporation from $20.00 to $22.00 and gave the stock a buy rating in a research note on Friday, May 12th.
Blue Bird Corporation (NASDAQ:BLBD) traded down 2.21% during trading on Monday, hitting $17.70. The stock had a trading volume of 21,651 shares. Blue Bird Corporation has a 12 month low of $12.87 and a 12 month high of $19.60. The stock’s market cap is $419.51 million. The firm has a 50 day moving average of $17.42 and a 200-day moving average of $17.46.
Blue Bird Corporation (NASDAQ:BLBD) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.10. Blue Bird Corporation had a net margin of 2.60% and a negative return on equity of 18.50%. The business had revenue of $332.60 million during the quarter, compared to the consensus estimate of $324.13 million. Equities analysts predict that Blue Bird Corporation will post $1.15 earnings per share for the current year.
Blue Bird Corporation announced that its board has approved a stock buyback program on Thursday, August 3rd that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, Director Coliseum Capital Management, L sold 219,680 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $18.00, for a total transaction of $3,954,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 380,049 shares of company stock valued at $6,945,147 over the last quarter. Insiders own 16.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BLBD. Federated Investors Inc. PA increased its position in Blue Bird Corporation by 82.1% in the second quarter. Federated Investors Inc. PA now owns 6,143 shares of the company’s stock worth $104,000 after buying an additional 2,770 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new position in Blue Bird Corporation during the second quarter worth about $367,000. Bank of New York Mellon Corp increased its position in Blue Bird Corporation by 12.2% in the second quarter. Bank of New York Mellon Corp now owns 47,565 shares of the company’s stock worth $809,000 after buying an additional 5,187 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Blue Bird Corporation by 26.6% in the second quarter. Wedge Capital Management L L P NC now owns 52,432 shares of the company’s stock worth $891,000 after buying an additional 11,032 shares in the last quarter. Finally, Cadence Capital Management LLC increased its position in Blue Bird Corporation by 5.8% in the second quarter. Cadence Capital Management LLC now owns 67,892 shares of the company’s stock worth $1,154,000 after buying an additional 3,749 shares in the last quarter.
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