Federated Investors Inc. PA Buys 37,455 Shares of TrueBlue, Inc. (TBI)

Federated Investors Inc. PA increased its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 26,192.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,598 shares of the business services provider’s stock after acquiring an additional 37,455 shares during the quarter. Federated Investors Inc. PA owned approximately 0.09% of TrueBlue worth $996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Louisiana State Employees Retirement System grew its position in TrueBlue by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the business services provider’s stock worth $470,000 after acquiring an additional 100 shares during the last quarter. 1st Global Advisors Inc. grew its position in TrueBlue by 1.4% during the 1st quarter. 1st Global Advisors Inc. now owns 8,754 shares of the business services provider’s stock worth $239,000 after acquiring an additional 120 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in TrueBlue by 0.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 43,510 shares of the business services provider’s stock worth $1,153,000 after acquiring an additional 165 shares during the last quarter. Jennison Associates LLC grew its position in TrueBlue by 0.5% during the 2nd quarter. Jennison Associates LLC now owns 37,797 shares of the business services provider’s stock worth $1,002,000 after acquiring an additional 192 shares during the last quarter. Finally, Arizona State Retirement System grew its position in TrueBlue by 0.9% during the 1st quarter. Arizona State Retirement System now owns 22,028 shares of the business services provider’s stock worth $602,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Several equities research analysts have weighed in on TBI shares. ValuEngine cut TrueBlue from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BMO Capital Markets reiterated a “hold” rating and issued a $23.00 price objective (down previously from $26.00) on shares of TrueBlue in a report on Friday, August 11th. BidaskClub cut TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. Finally, Zacks Investment Research cut TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.25.

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Shares of TrueBlue, Inc. (NYSE:TBI) opened at 20.90 on Friday. The firm has a 50-day moving average price of $20.81 and a 200 day moving average price of $25.21. TrueBlue, Inc. has a 12-month low of $16.50 and a 12-month high of $28.70. The stock has a market cap of $868.98 million, a PE ratio of 14.76 and a beta of 2.38.

TrueBlue (NYSE:TBI) last released its earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $610.10 million for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $0.54 earnings per share. Equities research analysts expect that TrueBlue, Inc. will post $1.69 earnings per share for the current year.

In other news, EVP Wayne W. Larkin sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $20.38, for a total transaction of $203,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

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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Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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