Bank of America Corp DE grew its position in TrueBlue, Inc. (NYSE:TBI - Free Report) by 43.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 459,530 shares of the business services provider's stock after acquiring an additional 138,229 shares during the quarter. Bank of America Corp DE owned 1.51% of TrueBlue worth $1,797,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp bought a new position in TrueBlue in the first quarter worth $41,000. Dynamic Technology Lab Private Ltd bought a new stake in TrueBlue in the 4th quarter valued at $48,000. Simplex Trading LLC increased its holdings in TrueBlue by 56.9% in the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider's stock valued at $50,000 after buying an additional 3,995 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of TrueBlue in the 4th quarter valued at $53,000. Finally, Jain Global LLC acquired a new position in shares of TrueBlue in the 4th quarter valued at $58,000. Institutional investors own 97.15% of the company's stock.
TrueBlue Stock Performance
Shares of NYSE TBI opened at $10.23 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day moving average price of $8.82 and a 200 day moving average price of $6.28. The stock has a market capitalization of $311.28 million, a PE ratio of -5.44, a price-to-earnings-growth ratio of 11.98 and a beta of 1.67. TrueBlue, Inc. has a 52 week low of $3.18 and a 52 week high of $11.03.
TrueBlue (NYSE:TBI - Get Free Report) last issued its earnings results on Tuesday, August 4th. The business services provider reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.16. The business had revenue of $443.00 million for the quarter, compared to the consensus estimate of $417.84 million. TrueBlue had a negative net margin of 3.35% and a negative return on equity of 6.26%. Analysts predict that TrueBlue, Inc. will post 0.06 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently commented on TBI. Robert W. Baird set a $9.50 target price on TrueBlue in a research report on Wednesday, August 5th. Weiss Ratings upgraded TrueBlue from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded TrueBlue from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TrueBlue presently has an average rating of "Hold" and a consensus price target of $7.75.
Get Our Latest Analysis on TrueBlue
TrueBlue Profile
(
Free Report)
TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company's offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.
TrueBlue's primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.
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