Blue Bird Corporation (NASDAQ:BLBD) announced that its board has approved a share repurchase plan, which allows the company to repurchase $50.00 million in shares on Thursday, August 3rd, EventVestor reports. This repurchase authorization allows the company to purchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Shares of Blue Bird Corporation (NASDAQ BLBD) opened at 17.80 on Wednesday. The stock’s market capitalization is $421.88 million. The firm has a 50-day moving average price of $17.40 and a 200-day moving average price of $17.46. Blue Bird Corporation has a 1-year low of $12.87 and a 1-year high of $19.60.

Blue Bird Corporation (NASDAQ:BLBD) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.10. The business had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $324.13 million. Blue Bird Corporation had a negative return on equity of 18.50% and a net margin of 2.60%. On average, equities research analysts forecast that Blue Bird Corporation will post $1.15 earnings per share for the current year.

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their price target on Blue Bird Corporation from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 12th. Roth Capital set a $22.00 price target on Blue Bird Corporation and gave the company a “buy” rating in a research note on Monday.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at

In other news, Director Coliseum Capital Management, L sold 27,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $18.01, for a total transaction of $486,270.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 380,049 shares of company stock valued at $6,945,147. Insiders own 16.70% of the company’s stock.

Receive News & Ratings for Blue Bird Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Bird Corporation and related companies with's FREE daily email newsletter.