Louisiana State Employees Retirement System increased its position in TrueBlue, Inc. (NYSE:TBI) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,300 shares of the business services provider’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in TrueBlue were worth $458,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Algert Global LLC bought a new stake in TrueBlue during the first quarter worth about $1,635,000. First Trust Advisors LP bought a new stake in TrueBlue during the first quarter worth about $369,000. State Board of Administration of Florida Retirement System increased its stake in TrueBlue by 15.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 43,345 shares of the business services provider’s stock worth $1,185,000 after buying an additional 5,815 shares during the period. LSV Asset Management bought a new stake in TrueBlue during the first quarter worth about $1,594,000. Finally, Great West Life Assurance Co. Can increased its stake in TrueBlue by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 58,860 shares of the business services provider’s stock worth $1,606,000 after buying an additional 3,809 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.
TrueBlue, Inc. (NYSE TBI) traded down 1.00% during trading on Friday, hitting $19.85. 405,181 shares of the stock traded hands. The company has a market cap of $825.32 million, a P/E ratio of 14.02 and a beta of 2.34. TrueBlue, Inc. has a 52-week low of $16.50 and a 52-week high of $28.70. The firm has a 50-day moving average price of $25.10 and a 200 day moving average price of $26.03.
TrueBlue (NYSE:TBI) last posted its earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. On average, equities analysts expect that TrueBlue, Inc. will post $1.69 EPS for the current year.
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A number of research firms recently issued reports on TBI. BMO Capital Markets restated a “sell” rating and set a $25.00 price objective on shares of TrueBlue in a report on Wednesday, May 3rd. BidaskClub downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, TheStreet upgraded shares of TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. TrueBlue has an average rating of “Hold” and an average price target of $21.25.
In other news, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $28.32, for a total value of $708,000.00. Following the transaction, the director now owns 73,581 shares in the company, valued at approximately $2,083,813.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derrek Lane Gafford sold 20,000 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
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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