Public Sector Pension Investment Board increased its position in shares of Trueblue Inc (NYSE:TBI) by 45.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,328 shares of the business services provider’s stock after acquiring an additional 46,700 shares during the period. Public Sector Pension Investment Board owned about 0.38% of Trueblue worth $3,593,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of TBI. Tower Research Capital LLC TRC bought a new stake in Trueblue during the 3rd quarter worth $34,000. PNC Financial Services Group Inc. grew its position in Trueblue by 22.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,296 shares of the business services provider’s stock worth $103,000 after acquiring an additional 789 shares during the last quarter. SG Americas Securities LLC bought a new stake in Trueblue during the 3rd quarter worth $114,000. Trexquant Investment LP bought a new stake in Trueblue during the 4th quarter worth $269,000. Finally, Dupont Capital Management Corp bought a new stake in shares of Trueblue in the 4th quarter valued at about $396,000. Institutional investors and hedge funds own 94.81% of the company’s stock.
A number of research firms have commented on TBI. Zacks Investment Research lowered Trueblue from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 11th. Sidoti upgraded Trueblue from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 17th. TheStreet lowered Trueblue from a “b-” rating to a “c” rating in a research report on Thursday, February 6th. Finally, ValuEngine upgraded Trueblue from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.33.
Shares of NYSE TBI traded up $0.17 during trading on Thursday, reaching $12.98. The company had a trading volume of 423,194 shares, compared to its average volume of 525,858. The company’s fifty day moving average price is $15.26 and its 200-day moving average price is $20.76. Trueblue Inc has a 12 month low of $12.02 and a 12 month high of $25.75. The stock has a market cap of $494.85 million, a P/E ratio of 8.06 and a beta of 1.93. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.11.
Trueblue (NYSE:TBI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $591.00 million during the quarter, compared to the consensus estimate of $601.26 million. Trueblue had a net margin of 2.66% and a return on equity of 13.06%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. As a group, equities analysts predict that Trueblue Inc will post 1.62 earnings per share 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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