Blue Bird Corp (NASDAQ:BLBD) President Smith Britton has sold a total of 2,508 shares of company stock, according to a recent filing with the Securities and Exchange Commission. The transaction, dated August 19, 2024, was executed at a price of $48.00 per share, bringing the total value of the sale to $120,384.
The sale has adjusted Britton's holdings in the school bus manufacturer to 83,125 shares following the transaction. The company, known for its production of school buses, has its shares publicly traded under the ticker BLBD on the NASDAQ exchange.
Investors often monitor the buying and selling activities of company executives as they can provide insights into the company's performance and future prospects. While the reasons behind Britton's sale are not disclosed in the filing, such transactions are routine and can be related to personal financial management or diversification strategies.
The transactions are made public through filings with the SEC to ensure transparency and provide investors with relevant information about the financial dealings of company insiders. Blue Bird Corp has not issued any remarks regarding the transaction, and it remains a routine disclosure as required by securities regulations.
Shareholders and potential investors in Blue Bird Corp can stay informed about insider transactions through the company's filings and public disclosures, which are available on the SEC's EDGAR database.
In other recent news, Blue Bird Corporation has announced a record-setting fiscal 2024 third-quarter earnings, with a significant increase in profitability and raised full-year guidance. The company reported a 14.5% adjusted EBITDA margin and a robust growth in net orders for buses, including a surge in electric bus sales. Blue Bird's backlog of firm orders stands at over 5,200 units, equating to approximately $775 million in potential revenue.
The company is also expanding its production capacity, backed by an $80 million grant from the Department of Energy (DOE). This expansion will enable Blue Bird to produce up to 14,000 buses annually and create about 400 new jobs. The company projects revenue growth and higher adjusted EBITDA in the coming years.
In terms of future expectations, Blue Bird expects fiscal '24 revenue to reach $1.315 billion with adjusted EBITDA of $175 million. The company has also projected its fiscal '25 revenue to be between $1.4 billion and $1.5 billion, with adjusted EBITDA of $180 million to $200 million. Despite challenges such as cost inflation and supply chain constraints, the company remains optimistic about the future, backed by strong market demand for its buses, especially the electric models.
InvestingPro Insights
Following the recent sale of shares by Blue Bird Corp (NASDAQ:BLBD) President Smith Britton, investors may be keen on understanding the company's financial health and market performance. Blue Bird Corp has shown a robust financial trajectory with a notable revenue growth of 19.53% over the last twelve months as of Q3 2024, indicating a strong market demand for its school bus manufacturing operations. The company's gross profit margin stands at a healthy 18.97%, reflecting its ability to maintain profitability amidst operational costs.
With a market capitalization of $1.57 billion and an adjusted price-to-earnings (P/E) ratio of 15.38, Blue Bird Corp is positioned in the market with a moderate valuation, providing investors with a gauge of its earnings relative to its share price. An InvestingPro Tip highlights that analysts are optimistic about the company's future, with three analysts having revised their earnings upwards for the upcoming period, suggesting confidence in the company's ability to sustain or improve its profitability.
Another InvestingPro Tip points to the company's stock price movements being quite volatile. This could be of particular interest to investors looking for both growth potential and those who need to consider their risk tolerance levels. The stock has experienced a large price uptick of 57.47% over the last six months, and year-to-date, the returns have been impressive at 77.56%, highlighting a significant appreciation in value for shareholders.
For investors seeking more detailed analysis and additional InvestingPro Tips, there are currently 11 more listed on InvestingPro, which can be accessed for Blue Bird Corp at https://www.investing.com/pro/BLBD. These tips could provide further insights into the company's debt levels, dividend policies, and long-term performance metrics, which are crucial for making informed investment decisions.
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