Public Employees Retirement System of Ohio raised its position in shares of TrueBlue, Inc. (NYSE:TBI) by 34.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 33,659 shares of the business services provider’s stock after buying an additional 8,582 shares during the period. Public Employees Retirement System of Ohio owned about 0.08% of TrueBlue worth $921,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Paloma Partners Management Co boosted its position in TrueBlue by 92.5% in the first quarter. Paloma Partners Management Co now owns 36,535 shares of the business services provider’s stock worth $999,000 after buying an additional 17,558 shares during the last quarter. AQR Capital Management LLC boosted its position in TrueBlue by 21.5% in the first quarter. AQR Capital Management LLC now owns 422,716 shares of the business services provider’s stock worth $11,561,000 after buying an additional 74,866 shares during the last quarter. State Street Corp boosted its position in TrueBlue by 5.6% in the first quarter. State Street Corp now owns 1,022,823 shares of the business services provider’s stock worth $27,975,000 after buying an additional 53,936 shares during the last quarter. Bank of America Corp DE boosted its position in TrueBlue by 15.2% in the first quarter. Bank of America Corp DE now owns 236,057 shares of the business services provider’s stock worth $6,456,000 after buying an additional 31,213 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in TrueBlue by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 453,956 shares of the business services provider’s stock worth $12,416,000 after buying an additional 6,795 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.
TrueBlue, Inc. (NYSE:TBI) traded down 3.37% during mid-day trading on Thursday, reaching $20.05. The company had a trading volume of 399,222 shares. TrueBlue, Inc. has a one year low of $16.50 and a one year high of $28.70. The stock has a 50 day moving average price of $25.47 and a 200 day moving average price of $26.10. The company has a market capitalization of $833.64 million, a P/E ratio of 14.16 and a beta of 2.34.
TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $610.10 million during the quarter, compared to the consensus estimate of $610.04 million. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. On average, equities analysts expect that TrueBlue, Inc. will post $1.69 earnings per share for the current fiscal year.
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A number of research firms have issued reports on TBI. BidaskClub cut TrueBlue from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets raised TrueBlue from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $25.00 to $28.00 in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.50.
In other TrueBlue news, CFO Derrek Lane Gafford sold 20,000 shares of TrueBlue stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $27.75, for a total transaction of $555,000.00. Following the completion of the transaction, the chief financial officer now owns 91,859 shares in the company, valued at approximately $2,549,087.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $28.32, for a total value of $708,000.00. Following the completion of the transaction, the director now owns 73,581 shares in the company, valued at approximately $2,083,813.92. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
About TrueBlue
TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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