Daniel Mark Thau, a director at Blue Bird Corp (NASDAQ:BLBD), recently acquired 700 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were purchased at a weighted average price of $39.18 per share, totaling approximately $27,426. The transactions occurred on December 9, 2024, with prices ranging from $39.13 to $39.23. Following the transaction, Thau holds 700 shares directly in the $1.27 billion market cap company. The insider purchase comes as Blue Bird demonstrates strong momentum, with the stock delivering an impressive 80% return over the past year despite notable price volatility. InvestingPro analysis indicates the stock is currently undervalued, with a "GREAT" overall financial health score. Additional insights and detailed valuation metrics are available through InvestingPro's comprehensive research report, part of its coverage of over 1,400 US stocks.
In other recent news, Blue Bird Corp reported record earnings and revenues for fiscal year 2024, with a significant increase in 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. In addition, the company's backlog stood at approximately 4,800 units, valued at $735 million, and the EV backlog increased quarter-over-quarter to 630 units, worth over $200 million. Craig-Hallum, an independent research firm, reaffirmed its Buy rating on Blue Bird's stock, raising the price target to $71 from $68. The firm noted the company's positive trend and momentum are expected to continue into fiscal year 2025, with revenue guidance reaffirmed and EBITDA guidance raised. The company also received an $80 million investment grant from the Department of Energy for facility expansion and is set to benefit from the EPA's $5 billion Clean School Bus Program. These recent developments suggest a robust position in the market for clean and alternative energy vehicles.
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