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

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

Hedge Funds Weigh In On Blue Bird

A number of institutional investors and hedge funds have recently bought and sold shares of BLBD. National Bank of Canada FI acquired a new position in shares of Blue Bird in the third quarter valued at approximately $26,000. Macroview Investment Management LLC acquired a new position in Blue Bird in the 2nd quarter valued at approximately $29,000. Truvestments Capital LLC bought a new position in shares of Blue Bird during the third quarter valued at $35,000. Private Trust Co. NA bought a new stake in shares of Blue Bird in the third quarter worth $38,000. Finally, nVerses Capital LLC acquired a new stake in Blue Bird in the third quarter valued at $53,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Price Performance

Shares of NASDAQ BLBD traded up $1.56 during midday trading on Friday, reaching $43.71. 622,482 shares of the company were exchanged, compared to its average volume of 625,677. The stock’s 50-day moving average price is $41.79 and its 200-day moving average price is $47.62. The stock has a market cap of $1.41 billion, a P/E ratio of 13.75, a PEG 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. Blue Bird has a one year low of $23.76 and a one year high of $59.40.

Analyst Ratings Changes

A number of research firms recently commented on BLBD. 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 shares of Blue Bird in a report on Wednesday, October 9th. They set a “buy” rating and a $55.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of Blue Bird in a research note on Friday. Roth Mkm cut Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded Blue Bird from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

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.