Blue Bird Corp (NASDAQ:BLBD) Sees Significant Decline in Short Interest

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Blue Bird Corp (NASDAQ:BLBD) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 823,000 shares, a decrease of 9.0% from the April 30th total of 903,900 shares. Currently, 5.6% of the company’s stock are short sold. Based on an average daily volume of 80,400 shares, the short-interest ratio is currently 10.2 days.

Blue Bird stock traded down $0.18 during trading on Wednesday, reaching $19.08. 79,900 shares of the company’s stock were exchanged, compared to its average volume of 79,188. Blue Bird has a 52-week low of $15.67 and a 52-week high of $26.95. The stock has a market cap of $507.68 million, a price-to-earnings ratio of 11.22 and a beta of 1.01.

Blue Bird (NASDAQ:BLBD) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $211.64 million for the quarter, compared to analysts’ expectations of $217.80 million. Blue Bird had a negative return on equity of 78.39% and a net margin of 3.45%. On average, analysts predict that Blue Bird will post 1.52 earnings per share for the current year.

A number of analysts recently weighed in on BLBD shares. ValuEngine cut shares of Blue Bird from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. BidaskClub cut shares of Blue Bird from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Stifel Nicolaus raised shares of Blue Bird from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $23.00 in a research report on Monday, May 13th.

Large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Blue Bird by 8.5% in the 4th quarter. BlackRock Inc. now owns 999,398 shares of the company’s stock valued at $18,179,000 after buying an additional 78,023 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Blue Bird during the fourth quarter worth about $781,000. Covington Capital Management bought a new position in shares of Blue Bird during the fourth quarter worth about $63,000. Mackay Shields LLC bought a new position in shares of Blue Bird during the fourth quarter worth about $250,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Blue Bird during the fourth quarter worth about $26,000. 98.05% of the stock is owned by institutional investors.

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Blue Bird Company Profile

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.

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