Blue Bird Corp (NASDAQ:BLBD) Short Interest Update

Blue Bird Corp (NASDAQ:BLBD) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 541,600 shares, a drop of 18.4% from the June 30th total of 663,700 shares. Based on an average daily trading volume, of 71,900 shares, the days-to-cover ratio is presently 7.5 days. Approximately 3.7% of the shares of the company are sold short.

NASDAQ:BLBD traded down $0.57 during trading hours on Wednesday, hitting $17.05. 385 shares of the stock traded hands, compared to its average volume of 75,821. Blue Bird has a 1 year low of $15.67 and a 1 year high of $26.95. The stock has a market capitalization of $466.51 million, a P/E ratio of 9.88 and a beta of 0.98. The firm has a 50 day moving average of $19.55.

Blue Bird (NASDAQ:BLBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $308.77 million for the quarter. Blue Bird had a net margin of 2.74% and a negative return on equity of 63.17%.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Blue Bird from a “strong sell” rating to a “hold” rating in a report on Friday, July 12th. BidaskClub downgraded shares of Blue Bird from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus raised shares of Blue Bird from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $23.00 in a report on Monday, May 13th. Finally, ValuEngine downgraded shares of Blue Bird from a “sell” rating to a “strong sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Blue Bird has a consensus rating of “Hold” and an average target price of $22.50.

Several institutional investors have recently added to or reduced their stakes in BLBD. Bank of Montreal Can boosted its stake in shares of Blue Bird by 18,057.1% during the second quarter. Bank of Montreal Can now owns 1,271 shares of the company’s stock valued at $25,000 after purchasing an additional 1,264 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Blue Bird by 52.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,165 shares of the company’s stock worth $37,000 after purchasing an additional 742 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Blue Bird by 901.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,174 shares of the company’s stock worth $54,000 after purchasing an additional 2,857 shares in the last quarter. Exane Derivatives purchased a new stake in Blue Bird in the 2nd quarter worth approximately $60,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Blue Bird by 285.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,287 shares of the company’s stock worth $78,000 after purchasing an additional 3,175 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.

About Blue Bird

Blue Bird Corporation designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments, Bus and Parts. The company offers Type C, Type D, and specialty buses; and alternative fuel applications through its propane-powered, gasoline-powered, compressed natural gas-powered, and electric powered school buses.

See Also: Why do companies issue convertible shares?

Receive News & Ratings for Blue Bird Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Bird and related companies with MarketBeat.com's FREE daily email newsletter.