TrueBlue, Inc. (TBI) Position Increased by American Century Companies Inc.

American Century Companies Inc. lifted its stake in TrueBlue, Inc. (NYSE:TBI) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,831 shares of the business services provider’s stock after purchasing an additional 2,833 shares during the period. American Century Companies Inc. owned approximately 0.05% of TrueBlue worth $579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBI. BlackRock Inc. lifted its stake in shares of TrueBlue by 50,858.0% in the first quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock valued at $141,280,000 after purchasing an additional 5,155,477 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of TrueBlue by 114.6% in the first quarter. JPMorgan Chase & Co. now owns 1,085,196 shares of the business services provider’s stock valued at $29,681,000 after purchasing an additional 579,545 shares during the period. Alliancebernstein L.P. lifted its stake in shares of TrueBlue by 41.1% in the first quarter. Alliancebernstein L.P. now owns 1,345,671 shares of the business services provider’s stock valued at $36,804,000 after purchasing an additional 391,674 shares during the period. Vanguard Group Inc. lifted its stake in shares of TrueBlue by 8.5% in the first quarter. Vanguard Group Inc. now owns 3,892,823 shares of the business services provider’s stock valued at $106,469,000 after purchasing an additional 305,994 shares during the period. Finally, FMR LLC lifted its stake in shares of TrueBlue by 32.5% in the first quarter. FMR LLC now owns 1,041,300 shares of the business services provider’s stock valued at $28,480,000 after purchasing an additional 255,207 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Several analysts recently commented on TBI shares. BMO Capital Markets upgraded shares of TrueBlue from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $25.00 to $28.00 in a research note on Friday, May 26th. Zacks Investment Research cut shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub cut shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. TheStreet upgraded shares of TrueBlue from a “c” rating to a “b” rating in a research note on Monday, July 31st. Finally, ValuEngine cut shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. TrueBlue currently has a consensus rating of “Hold” and a consensus target price of $21.25.

In other news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $20.38, for a total transaction of $203,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

TrueBlue, Inc. (NYSE:TBI) opened at 21.40 on Tuesday. TrueBlue, Inc. has a 12 month low of $16.50 and a 12 month high of $28.70. The firm has a market cap of $889.77 million, a PE ratio of 15.11 and a beta of 2.38. The firm’s 50-day moving average is $20.70 and its 200-day moving average is $25.16.

TrueBlue (NYSE:TBI) last announced its earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. The firm had revenue of $610.10 million during the quarter, compared to analyst estimates of $610.04 million. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. TrueBlue’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Equities analysts expect that TrueBlue, Inc. will post $1.69 earnings per share for the current year.

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TrueBlue 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.

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Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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