TrueBlue, Inc. (TBI) Holdings Lifted by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 9.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 917,628 shares of the business services provider’s stock after purchasing an additional 76,831 shares during the quarter. Ameriprise Financial Inc. owned about 2.22% of TrueBlue worth $20,582,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TBI. Meeder Asset Management Inc. increased its stake in shares of TrueBlue by 192.7% in the third quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock worth $106,000 after acquiring an additional 3,098 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of TrueBlue in the second quarter worth $236,000. Piedmont Investment Advisors LLC acquired a new stake in shares of TrueBlue in the second quarter worth $244,000. Virtu KCG Holdings LLC acquired a new stake in shares of TrueBlue in the second quarter worth $261,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of TrueBlue by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,060 shares of the business services provider’s stock worth $267,000 after acquiring an additional 380 shares during the period. Institutional investors and hedge funds own 90.55% of the company’s stock.

Shares of TrueBlue, Inc. (NYSE TBI) traded up $0.45 during midday trading on Monday, reaching $27.80. 300,700 shares of the company were exchanged, compared to its average volume of 291,017. TrueBlue, Inc. has a 12-month low of $19.30 and a 12-month high of $29.50. The stock has a market capitalization of $1,149.85, a P/E ratio of 15.53 and a beta of 2.38. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.77.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Monday, October 30th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The firm had revenue of $660.78 million for the quarter, compared to the consensus estimate of $651.91 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. equities analysts predict that TrueBlue, Inc. will post 1.7 earnings per share for the current fiscal year.

TrueBlue declared that its board has initiated a stock buyback plan on Monday, October 30th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

TBI has been the topic of a number of research reports. TheStreet lowered shares of TrueBlue from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. ValuEngine lowered shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Robert W. Baird reiterated a “hold” rating and issued a $25.00 price objective on shares of TrueBlue in a research note on Friday, October 6th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $23.00 price objective on shares of TrueBlue in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $26.00.

In related news, EVP James E. Defebaugh sold 7,500 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.16, for a total transaction of $211,200.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven C. Cooper sold 23,900 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $28.06, for a total transaction of $670,634.00. The disclosure for this sale can be found here. Insiders have sold 79,985 shares of company stock worth $2,169,509 over the last three months. 2.00% of the stock is currently owned by insiders.

WARNING: This story was published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://stocknewstimes.com/2017/12/11/trueblue-inc-tbi-holdings-lifted-by-ameriprise-financial-inc.html.

TrueBlue Company Profile

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.

Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

Receive News & Ratings for TrueBlue Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueBlue Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply