Rhumbline Advisers lifted its holdings in shares of Trueblue Inc (NYSE:TBI) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,186 shares of the business services provider’s stock after buying an additional 7,778 shares during the quarter. Rhumbline Advisers owned about 0.33% of Trueblue worth $2,810,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Strs Ohio lifted its stake in Trueblue by 2.3% in the third quarter. Strs Ohio now owns 36,000 shares of the business services provider’s stock valued at $759,000 after buying an additional 800 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Trueblue by 19.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,620 shares of the business services provider’s stock worth $224,000 after purchasing an additional 1,700 shares in the last quarter. Meeder Asset Management Inc. grew its position in Trueblue by 328.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,676 shares of the business services provider’s stock worth $184,000 after purchasing an additional 6,649 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Trueblue by 54.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 101,512 shares of the business services provider’s stock worth $2,142,000 after purchasing an additional 35,991 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Trueblue by 32.7% in the 3rd quarter. Pacer Advisors Inc. now owns 19,056 shares of the business services provider’s stock worth $402,000 after purchasing an additional 4,698 shares in the last quarter. Institutional investors own 95.12% of the company’s stock.
A number of brokerages have issued reports on TBI. TheStreet raised shares of Trueblue from a “c” rating to a “b-” rating in a research report on Friday, November 1st. Sidoti assumed coverage on shares of Trueblue in a research note on Monday, October 7th. They set a “neutral” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded shares of Trueblue from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research note on Saturday, November 2nd. Finally, ValuEngine upgraded shares of Trueblue from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $24.75.
NYSE TBI traded down $0.01 on Tuesday, hitting $23.33. The stock had a trading volume of 30,230 shares, compared to its average volume of 185,511. Trueblue Inc has a 52-week low of $18.62 and a 52-week high of $25.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $906.88 million, a price-to-earnings ratio of 10.23 and a beta of 1.64. The firm has a 50-day moving average of $21.93 and a 200-day moving average of $21.70.
Trueblue (NYSE:TBI) last posted its earnings results on Monday, October 28th. The business services provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $624.63 million. Trueblue had a net margin of 2.85% and a return on equity of 14.81%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. As a group, research analysts anticipate that Trueblue Inc will post 2.04 earnings per share for the current fiscal year.
TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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