Blue Bird Co. (NASDAQ:BLBD) Short Interest Up 29.1% in October

Blue Bird Co. (NASDAQ:BLBD) was the recipient of a significant increase in short interest during the month of 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 daily volume of 668,600 shares, the short-interest ratio is currently 5.1 days.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Roth Mkm lowered 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 report on Thursday, October 3rd. Needham & Company LLC cut their price target on Blue Bird from $72.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday. Roth Capital downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. BTIG Research began coverage on Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Blue Bird has an average rating of “Moderate Buy” and an average price target of $60.14.

Blue Bird Trading Down 1.9 %

Shares of Blue Bird stock traded down $0.73 during trading hours on Friday, hitting $37.62. The company’s stock had a trading volume of 150,983 shares, compared to its average volume of 600,971. The company has a market capitalization of $1.22 billion, a PE ratio of 12.66, a P/E/G ratio of 0.20 and a beta of 1.62. The business has a fifty day moving average of $45.57 and a 200 day moving average of $48.51. 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.

Insider Transactions at Blue Bird

In other news, CEO Phil Horlock sold 32,159 shares of Blue Bird stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $48.93, for a total value of $1,573,539.87. Following the transaction, the chief executive officer now owns 299,812 shares of the company’s stock, valued at $14,669,801.16. The trade was a 9.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Britton Smith sold 2,508 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.81, for a total transaction of $124,923.48. Following the transaction, the president now owns 80,617 shares in the company, valued at approximately $4,015,532.77. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,255 shares of company stock worth $2,580,075. Insiders own 2.10% of the company’s stock.

Institutional Trading of Blue Bird

Several large investors have recently modified their holdings of the business. Westwood Holdings Group Inc. acquired a new position in shares of Blue Bird in the first quarter worth about $83,817,000. Vanguard Group Inc. grew its position in shares of Blue Bird by 36.0% during the first quarter. Vanguard Group Inc. now owns 1,911,645 shares of the company’s stock worth $73,292,000 after buying an additional 505,727 shares in the last quarter. FMR LLC increased its stake in shares of 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 buying an additional 1,341,259 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Blue Bird by 0.4% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,920 shares of the company’s stock worth $30,499,000 after buying an additional 2,598 shares during the last quarter. Finally, Renaissance Technologies LLC raised 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 valued at $27,432,000 after acquiring an additional 229,004 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.