In a recent transaction, Smith Britton, President of Blue Bird Corp (NASDAQ:BLBD), sold 2,508 shares of the company's common stock at an average price of $49.81 per share, resulting in a total transaction value of $124,923. The sale took place on September 12, 2024, and was reported in a Form 4 document filed with the Securities and Exchange Commission.
The transaction has adjusted Britton's direct ownership in the company to 80,617 shares following the sale. The reported price per share of $49.81 provides a clear picture of the transaction's value, which stands out in the context of the executive's trading activity.
Blue Bird Corp, known for its manufacturing of school buses and other commercial vehicles, has its company headquarters located in Macon, Georgia. The recent transaction by the President of Blue Bird Corp may be of interest to investors who closely monitor insider trades for insights into executive confidence and company performance.
It's important to note that the details provided in the SEC filing give a factual account of the transaction without any indication of the executive's reasons for the sale or its implications for the company's future. As with all insider transactions, investors often view such sales and purchases as one of many factors to consider when assessing a company's health and prospects.
In other recent news, Blue Bird Corporation has seen significant changes and achievements. Britton Smith, the President of Blue Bird, has resigned due to personal reasons, with current CEO Phil Horlock taking on the additional role of President. Despite this leadership change, the company remains committed to its growth plan and continues to position itself as a leader in sustainable student transportation solutions.
Blue Bird recently reported record-setting fiscal 2024 third-quarter earnings, marking a significant increase in profitability and raising its full-year guidance. The company achieved an all-time high quarterly profit with a 14.5% adjusted EBITDA margin and saw robust growth in net orders for buses, including a surge in electric bus sales. The backlog of firm orders stands at over 5,200 units, amounting to approximately $775 million in potential revenue.
The company is also investing in expanding its production capacity, supported by an $80 million grant from the Department of Energy. This expansion will enable Blue Bird to produce up to 14,000 buses annually and create about 400 new jobs. In terms of future expectations, Blue Bird anticipates revenue growth and higher adjusted EBITDA in the upcoming years, projecting fiscal '24 revenue to reach $1.315 billion with adjusted EBITDA of $175 million.
InvestingPro Insights
Following the recent insider transaction at Blue Bird Corp (NASDAQ:BLBD), where President Smith Britton sold shares, it's worthwhile for investors to consider additional financial metrics and analyst sentiments that can provide a broader context to the company's performance and potential. According to InvestingPro data, Blue Bird Corp has a market capitalization of $1.64 billion, reflecting its standing in the industry. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at a solid 16.36, which aligns with the average price at which the President sold his shares.
Investors may also find the company's revenue growth particularly encouraging. Blue Bird Corp has experienced a substantial revenue growth of 19.53% over the last twelve months as of Q3 2024, which may indicate an upward trajectory in the company's business operations. Additionally, the company has demonstrated a strong return on assets of 23.19% during the same period, which suggests efficient management and utilization of its assets.
On the analyst front, Blue Bird Corp has received positive revisions, with 3 analysts having revised their earnings upwards for the upcoming period. This could be a sign of growing optimism about the company's financial health and future earnings potential. Moreover, an InvestingPro Tip indicates that analysts predict the company will be profitable this year, which could be a critical factor for investors considering the stock's future performance.
For investors seeking a deeper dive into Blue Bird Corp's financials and future outlook, InvestingPro offers additional tips. Currently, there are 11 more InvestingPro Tips available for Blue Bird Corp at https://www.investing.com/pro/BLBD, providing a comprehensive analysis for those looking to make informed investment decisions.
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