Blue Bird Co. (NASDAQ:BLBD) Short Interest Update

Blue Bird Co. (NASDAQ:BLBD - Get Free Report) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,420,000 shares, an increase of 29.1% from the October 15th total of 2,650,000 shares. Based on an average trading volume of 668,600 shares, the short-interest ratio is currently 5.1 days.

Blue Bird Stock Down 5.2 %

BLBD stock traded down $1.98 during trading on Friday, hitting $36.37. 1,210,440 shares of the company's stock traded hands, compared to its average volume of 605,742. The firm has a market capitalization of $1.18 billion, a P/E ratio of 12.12, a PEG ratio of 0.20 and a beta of 1.62. The business has a fifty day simple moving average of $45.36 and a two-hundred day simple moving average of $48.44. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.66. Blue Bird has a 1 year low of $17.79 and a 1 year high of $59.40.

Wall Street Analyst Weigh In

Several analysts have issued reports on BLBD shares. Roth Mkm downgraded shares of Blue Bird from a "buy" rating to a "neutral" rating and set a $48.00 price objective for the company. in a research note on Thursday, October 3rd. Roth Capital downgraded shares of Blue Bird from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. StockNews.com raised shares of Blue Bird from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. BTIG Research began coverage on shares of Blue Bird in a research note on Wednesday, October 9th. They set a "buy" rating and a $55.00 price target for the company. Finally, Barclays lifted their price target on shares of Blue Bird from $43.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.14.

Insider Buying and Selling

In other Blue Bird news, President Britton Smith sold 2,508 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the completion of the sale, the president now owns 80,617 shares of the company's stock, valued at $4,015,532.77. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phil Horlock sold 16,080 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.34, for a total transaction of $761,227.20. Following the completion of the sale, the chief executive officer now directly owns 331,971 shares of the company's stock, valued at approximately $15,715,507.14. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,255 shares of company stock worth $2,580,075. Corporate insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Blue Bird

Several institutional investors and hedge funds have recently bought and sold shares of BLBD. Westwood Holdings Group Inc. purchased a new position in Blue Bird in the first quarter worth $83,817,000. FMR LLC grew its holdings in Blue Bird by 268.0% in the third quarter. FMR LLC now owns 1,841,745 shares of the company's stock worth $88,330,000 after purchasing an additional 1,341,259 shares during the last quarter. Vanguard Group Inc. grew its holdings in Blue Bird by 36.0% in the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company's stock worth $73,292,000 after purchasing an additional 505,727 shares during the last quarter. Boston Partners grew its holdings in Blue Bird by 279.5% in the first quarter. Boston Partners now owns 415,310 shares of the company's stock worth $15,587,000 after purchasing an additional 305,868 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Blue Bird by 81.7% in the second quarter. Renaissance Technologies LLC now owns 509,422 shares of the company's stock worth $27,432,000 after purchasing an additional 229,004 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Blue Bird Company Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.