In a recent transaction reported to the Securities and Exchange Commission, Blue Bird Corp's (NASDAQ:BLBD) Chief Financial Officer, Razvan Radulescu, sold 19,171 shares of the company's common stock. The shares were sold at a weighted average price of $42.89, totaling approximately $822,244. The transaction comes as Blue Bird demonstrates strong market performance, with the stock delivering an impressive 72% return over the past year. According to InvestingPro analysis, the company maintains a "GREAT" financial health score of 3.57.
This sale was conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stock. The shares were sold in multiple transactions, with prices ranging from $42.60 to $43.58. Following the sale, Radulescu holds 89,347 shares in the company.
In addition to the sale, Radulescu also exercised stock options to acquire a total of 9,171 shares at prices ranging from $12.35 to $20.00, with these transactions valued at approximately $129,808.
In other recent news, Blue Bird Corporation's financial performance has been highlighted by a record fiscal year in 2024, with a strong emphasis on electric vehicle (EV) sales. The company's bus sales rose by 6%, totaling 9,000 units, and a 19% increase in sales revenue. Notably, Blue Bird's adjusted EBITDA more than doubled to $183 million, with the adjusted EBITDA margin rising to 13.6%. The company's adjusted free cash flow also reached $99 million.
The production and deliveries of electric buses grew by 30%, with EVs making up 8% of total sales. Looking ahead, Blue Bird anticipates net revenue of $1.4-$1.5 billion for fiscal 2025 and expects adjusted EBITDA to be between $190-$210 million. The company aims to grow EV unit sales by 64% and achieve a 14% adjusted EBITDA margin.
In other recent developments, Craig-Hallum raised the stock's price target for Blue Bird to $71 from $68, maintaining a Buy rating on the shares. The firm's analyst noted the company's positive trend and momentum are expected to continue into fiscal year 2025. The analyst also expressed confidence in the continued support for Blue Bird's business from the Environmental Protection Agency (EPA) Clean School Bus funding.
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