Blue Bird Co. (NASDAQ:BLBD) Short Interest Up 6.4% in November

Blue Bird Co. (NASDAQ:BLBD) saw a large growth in short interest in the month of 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 days-to-cover ratio is presently 7.0 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of Blue Bird in a research note on Friday. StockNews.com raised shares of Blue Bird from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Roth Mkm downgraded shares of Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research report on Thursday, October 3rd. Roth Capital lowered shares of Blue Bird from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Bank of America decreased their price target on shares of Blue Bird from $66.00 to $63.50 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Blue Bird has an average rating of “Moderate Buy” and a consensus target price of $60.64.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. National Bank of Canada FI acquired a new stake in shares of Blue Bird in the 3rd quarter worth about $26,000. Macroview Investment Management LLC acquired a new position in Blue Bird during the 2nd quarter valued at about $29,000. Truvestments Capital LLC bought a new stake in Blue Bird during the 3rd quarter worth approximately $35,000. Private Trust Co. NA purchased a new stake in shares of Blue Bird in the third quarter worth approximately $38,000. Finally, nVerses Capital LLC bought a new position in shares of Blue Bird in the third quarter valued at approximately $53,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Blue Bird Stock Up 3.7 %

BLBD stock traded up $1.56 during midday trading on Friday, reaching $43.71. 622,482 shares of the company’s stock traded hands, compared to its average volume of 625,677. 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 firm’s fifty day moving average price is $41.79 and its 200-day moving average price is $47.62. Blue Bird has a 52 week low of $23.76 and a 52 week high of $59.40. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.05 and a beta of 1.59.

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.