Public Employees Retirement System of Ohio raised its position in shares of TrueBlue, Inc. (NYSE:TBI) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,447 shares of the business services provider’s stock after buying an additional 1,788 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.09% of TrueBlue worth $939,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its position in TrueBlue by 50,858.0% during the first quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock valued at $141,280,000 after buying an additional 5,155,477 shares during the period. Vanguard Group Inc. lifted its position in TrueBlue by 16.1% during the second quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock valued at $119,777,000 after buying an additional 627,033 shares during the period. Dimensional Fund Advisors LP lifted its position in TrueBlue by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock valued at $55,441,000 after buying an additional 24,233 shares during the period. Alliancebernstein L.P. lifted its position in TrueBlue by 2.6% during the second quarter. Alliancebernstein L.P. now owns 1,380,711 shares of the business services provider’s stock valued at $36,589,000 after buying an additional 35,040 shares during the period. Finally, FMR LLC lifted its position in TrueBlue by 16.1% during the second quarter. FMR LLC now owns 1,209,465 shares of the business services provider’s stock valued at $32,051,000 after buying an additional 168,165 shares during the period. 91.40% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on TBI shares. Zacks Investment Research raised TrueBlue from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine upgraded TrueBlue from a “hold” rating to a “buy” rating in a report on Friday, October 6th. BidaskClub downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Robert W. Baird restated a “hold” rating and set a $25.00 price target on shares of TrueBlue in a report on Friday, October 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $23.00 price target on shares of TrueBlue in a report on Friday, October 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.00.
TrueBlue, Inc. (TBI) opened at $28.35 on Friday. TrueBlue, Inc. has a twelve month low of $18.70 and a twelve month high of $28.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1,153.99, a price-to-earnings ratio of 15.59 and a beta of 2.37.
TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, October 30th. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. TrueBlue had a return on equity of 14.05% and a net margin of 2.22%. The firm had revenue of $660.78 million during the quarter, compared to the consensus estimate of $651.91 million. During the same period last year, the company earned $0.70 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. sell-side analysts anticipate that TrueBlue, Inc. will post 1.7 EPS for the current fiscal year.
TrueBlue announced that its board has approved a stock repurchase program on Monday, October 30th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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In related news, EVP Taryn R. Owen sold 9,000 shares of TrueBlue stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $26.08, for a total value of $234,720.00. Following the completion of the sale, the executive vice president now directly owns 13,084 shares in the company, valued at approximately $341,230.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wayne W. Larkin sold 10,000 shares of TrueBlue stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $20.38, for a total value of $203,800.00. The disclosure for this sale can be found here. Insiders have sold 45,985 shares of company stock valued at $1,131,871 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.
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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