Blue Bird Co. (NASDAQ:BLBD) Sees Significant Increase in Short Interest

Blue Bird Co. (NASDAQ:BLBD) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 1,930,000 shares, a growth of 75.5% from the June 30th total of 1,100,000 shares. Based on an average daily trading volume, of 631,200 shares, the days-to-cover ratio is presently 3.1 days.

Insider Transactions at Blue Bird

In other news, CFO Razvan Radulescu sold 5,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $47.08, for a total value of $235,400.00. Following the sale, the chief financial officer now owns 88,926 shares in the company, valued at $4,186,636.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Blue Bird

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macroview Investment Management LLC acquired a new position in Blue Bird during the 2nd quarter worth approximately $29,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Blue Bird by 22.5% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,325 shares of the company’s stock worth $179,000 after acquiring an additional 610 shares during the period. Covestor Ltd acquired a new stake in shares of Blue Bird in the 1st quarter worth approximately $29,000. Truist Financial Corp grew its holdings in shares of Blue Bird by 4.8% in the 4th quarter. Truist Financial Corp now owns 18,440 shares of the company’s stock worth $497,000 after acquiring an additional 842 shares during the period. Finally, CWM LLC grew its holdings in shares of Blue Bird by 220.1% in the 4th quarter. CWM LLC now owns 1,290 shares of the company’s stock worth $35,000 after acquiring an additional 887 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Stock Up 4.2 %

Blue Bird stock traded up $2.08 during midday trading on Friday, reaching $51.87. The company’s stock had a trading volume of 356,342 shares, compared to its average volume of 666,809. Blue Bird has a fifty-two week low of $17.59 and a fifty-two week high of $59.40. 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 market cap of $1.68 billion, a P/E ratio of 21.00, a P/E/G ratio of 0.43 and a beta of 1.63. The business has a 50-day simple moving average of $53.11 and a 200-day simple moving average of $40.68.

Blue Bird (NASDAQ:BLBD) last posted its earnings results on Wednesday, May 8th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.52. Blue Bird had a return on equity of 154.10% and a net margin of 6.36%. The business had revenue of $345.92 million during the quarter, compared to the consensus estimate of $315.00 million. On average, research analysts expect that Blue Bird will post 2.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLBD has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target (up previously from $52.00) on shares of Blue Bird in a research report on Wednesday, July 17th. Barclays increased their price target on Blue Bird from $35.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 10th. DA Davidson increased their price target on Blue Bird from $44.00 to $66.00 and gave the company a “buy” rating in a report on Monday, May 20th. Craig Hallum increased their price target on Blue Bird from $54.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 24th. Finally, Roth Mkm raised their target price on Blue Bird from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $51.42.

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.