Blue Bird Co. (NASDAQ:BLBD) Sees Large Decline in Short Interest

Financial News Live ·  Jan 30, 2023 01:51

Blue Bird Co. (NASDAQ:BLBD – Get Rating) saw a significant decline in short interest in January. As of January 15th, there was short interest totalling 602,700 shares, a decline of 9.7% from the December 31st total of 667,400 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 172,400 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analyst Weigh In

BLBD has been the subject of several recent research reports. cut Blue Bird from a "hold" rating to a "sell" rating in a research report on Wednesday, December 21st. DA Davidson lifted their price target on Blue Bird from $13.50 to $14.50 in a research report on Tuesday, December 6th.

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Blue Bird Price Performance

Shares of BLBD traded down $0.20 during trading hours on Friday, reaching $14.57. 124,136 shares of the company's stock traded hands, compared to its average volume of 137,968. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 109.96. The firm's 50 day simple moving average is $12.33 and its 200-day simple moving average is $10.87. The stock has a market cap of $466.68 million, a PE ratio of -10.05 and a beta of 1.31. Blue Bird has a 12 month low of $7.14 and a 12 month high of $22.10.

Blue Bird (NASDAQ:BLBD – Get Rating) last announced its earnings results on Monday, December 12th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.71). The company had revenue of $257.67 million during the quarter, compared to analysts' expectations of $232.00 million. Blue Bird had a negative net margin of 5.72% and a negative return on equity of 181.06%. Equities analysts expect that Blue Bird will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Blue Bird

A number of institutional investors and hedge funds have recently bought and sold shares of BLBD. American Securities LLC purchased a new stake in Blue Bird in the third quarter valued at approximately $79,577,000. The Manufacturers Life Insurance Company purchased a new stake in Blue Bird in the first quarter valued at approximately $15,977,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Blue Bird in the fourth quarter valued at approximately $2,093,000. BlackRock Inc. grew its position in Blue Bird by 8.3% during the first quarter. BlackRock Inc. now owns 1,204,245 shares of the company's stock valued at $22,664,000 after acquiring an additional 92,140 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Blue Bird by 52.3% during the first quarter. First Trust Advisors LP now owns 200,269 shares of the company's stock valued at $3,769,000 after acquiring an additional 68,778 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

About Blue Bird

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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, as well as diesel engines.

Further Reading

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