Arizona State Retirement System boosted its holdings in shares of Trueblue Inc (NYSE:TBI) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,286 shares of the business services provider’s stock after purchasing an additional 466 shares during the period. Arizona State Retirement System owned about 0.16% of Trueblue worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Trueblue by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,938,757 shares of the business services provider’s stock valued at $65,387,000 after purchasing an additional 170,950 shares during the period. GMT Capital Corp lifted its position in Trueblue by 32.4% during the first quarter. GMT Capital Corp now owns 1,923,417 shares of the business services provider’s stock valued at $45,470,000 after purchasing an additional 471,148 shares during the period. Janus Henderson Group PLC lifted its position in Trueblue by 6.0% during the first quarter. Janus Henderson Group PLC now owns 925,915 shares of the business services provider’s stock valued at $21,889,000 after purchasing an additional 52,028 shares during the period. Norges Bank acquired a new position in Trueblue during the fourth quarter valued at $19,543,000. Finally, Royce & Associates LP lifted its position in Trueblue by 14.3% during the first quarter. Royce & Associates LP now owns 246,394 shares of the business services provider’s stock valued at $5,825,000 after purchasing an additional 30,747 shares during the period. Institutional investors own 93.06% of the company’s stock.
TBI has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Trueblue from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. ValuEngine upgraded shares of Trueblue from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Robert W. Baird decreased their target price on shares of Trueblue from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Finally, TheStreet downgraded shares of Trueblue from a “b-” rating to a “c+” rating in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.50.
Shares of Trueblue stock opened at $19.72 on Monday. The firm has a 50-day simple moving average of $21.18 and a two-hundred day simple moving average of $22.72. The company has a market cap of $778.56 million, a P/E ratio of 8.65 and a beta of 1.61. Trueblue Inc has a fifty-two week low of $18.62 and a fifty-two week high of $29.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.84 and a current ratio of 1.84.
Trueblue (NYSE:TBI) last issued its quarterly earnings data on Monday, July 29th. The business services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The business had revenue of $588.59 million during the quarter, compared to the consensus estimate of $615.94 million. Trueblue had a net margin of 2.71% and a return on equity of 15.36%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Equities research analysts forecast that Trueblue Inc will post 2.01 EPS for the current 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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