Blue Bird Co. (NASDAQ:BLBD) Short Interest Down 18.6% in April

Blue Bird Co. (NASDAQ:BLBDGet Free Report) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 1,050,000 shares, a drop of 18.6% from the April 15th total of 1,290,000 shares. Based on an average daily trading volume, of 515,300 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLBD shares. Roth Mkm boosted their price target on Blue Bird from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Barclays increased their price target on Blue Bird from $35.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC boosted their target price on Blue Bird from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $40.50.

View Our Latest Analysis on BLBD

Blue Bird Stock Performance

Shares of Blue Bird stock traded up $1.50 during trading hours on Tuesday, reaching $50.26. 640,287 shares of the stock traded hands, compared to its average volume of 528,745. Blue Bird has a one year low of $17.59 and a one year high of $50.44. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 0.45 and a beta of 1.40. The company has a quick ratio of 0.56, a current ratio of 1.23 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average price of $36.31 and a 200 day moving average price of $29.13.

Insider Activity at Blue Bird

In related news, CEO Phil Horlock sold 57,562 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $33.00, for a total transaction of $1,899,546.00. Following the sale, the chief executive officer now owns 299,812 shares in the company, valued at $9,893,796. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Phil Horlock sold 57,562 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $33.00, for a total transaction of $1,899,546.00. Following the transaction, the chief executive officer now directly owns 299,812 shares in the company, valued at $9,893,796. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Britton Smith sold 6,228 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $33.49, for a total transaction of $208,575.72. Following the sale, the president now directly owns 87,250 shares in the company, valued at $2,922,002.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,115,159 shares of company stock valued at $135,385,519. 2.10% of the stock is owned by insiders.

Institutional Trading of Blue Bird

Several large investors have recently added to or reduced their stakes in BLBD. Westwood Holdings Group Inc. purchased a new stake in Blue Bird in the 1st quarter worth approximately $83,817,000. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Blue Bird by 783.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 439,159 shares of the company’s stock valued at $9,376,000 after purchasing an additional 389,459 shares during the period. Kennedy Capital Management LLC boosted its holdings in Blue Bird by 245.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 509,002 shares of the company’s stock worth $10,867,000 after buying an additional 361,763 shares during the period. Finally, Brightline Capital Management LLC bought a new position in Blue Bird in the 4th quarter worth $7,279,000. 93.59% of the stock is currently owned by institutional investors.

Blue Bird Company Profile

(Get Free Report)

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.

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