Short Interest in Blue Bird Co. (NASDAQ:BLBD) Rises By 6.4%

Blue Bird Co. (NASDAQ:BLBD) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 5,510,000 shares, a growth of 6.4% from the November 15th total of 5,180,000 shares. Based on an average daily volume of 792,300 shares, the short-interest ratio is presently 7.0 days.

Blue Bird Trading Down 0.6 %

BLBD stock traded down $0.28 during midday trading on Monday, reaching $43.43. The company’s stock had a trading volume of 35,453 shares, compared to its average volume of 623,223. Blue Bird has a 52 week low of $24.08 and a 52 week high of $59.40. The stock has a market cap of $1.40 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59. The company has a quick ratio of 0.83, a current ratio of 1.37 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $41.79 and its 200-day simple moving average is $47.57.

Analyst Ratings Changes

Several analysts have recently weighed in on BLBD shares. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a report 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. Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of Blue Bird in a research note on Friday. Roth Mkm cut shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Thursday, October 3rd. Finally, BTIG Research initiated 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 on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.64.

Hedge Funds Weigh In On Blue Bird

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC boosted its position in shares of Blue Bird by 2.4% during the third quarter. Lord Abbett & CO. LLC now owns 327,857 shares of the company’s stock worth $15,724,000 after purchasing an additional 7,770 shares in the last quarter. Franklin Resources Inc. increased its stake in Blue Bird by 13.0% in the 3rd quarter. Franklin Resources Inc. now owns 60,329 shares of the company’s stock valued at $2,712,000 after buying an additional 6,940 shares during the last quarter. Virtu Financial LLC increased its stake in Blue Bird by 38.3% in the 3rd quarter. Virtu Financial LLC now owns 15,519 shares of the company’s stock valued at $744,000 after buying an additional 4,295 shares during the last quarter. Hohimer Wealth Management LLC acquired a new stake in Blue Bird in the 3rd quarter valued at $244,000. Finally, Geode Capital Management LLC increased its stake in Blue Bird by 26.2% in the 3rd quarter. Geode Capital Management LLC now owns 752,228 shares of the company’s stock valued at $36,084,000 after buying an additional 156,298 shares during the last quarter. 93.59% of the stock is owned by institutional investors.

About Blue Bird

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.