O Shaughnessy Asset Management LLC raised its position in shares of Trueblue Inc (NYSE:TBI) by 51.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 20,255 shares of the business services provider’s stock after purchasing an additional 6,911 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Trueblue were worth $525,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new stake in shares of Trueblue during the 4th quarter worth approximately $149,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Trueblue during the 4th quarter worth approximately $241,000. Invictus RG acquired a new stake in shares of Trueblue during the 4th quarter worth approximately $266,000. Ramsey Quantitative Systems acquired a new stake in shares of Trueblue during the 4th quarter worth approximately $268,000. Finally, Trexquant Investment LP acquired a new stake in shares of Trueblue during the 1st quarter worth approximately $293,000. 96.02% of the stock is owned by institutional investors and hedge funds.
Shares of Trueblue opened at $25.60 on Friday, according to Marketbeat. Trueblue Inc has a 12-month low of $19.30 and a 12-month high of $29.50. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.05 billion, a P/E ratio of 14.71 and a beta of 2.15.
Trueblue (NYSE:TBI) last issued its earnings results on Monday, April 30th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Trueblue had a return on equity of 13.81% and a net margin of 2.39%. The company had revenue of $554.39 million for the quarter, compared to analysts’ expectations of $570.40 million. During the same period last year, the business earned $0.21 EPS. Trueblue’s quarterly revenue was down 2.4% compared to the same quarter last year. sell-side analysts forecast that Trueblue Inc will post 2.16 earnings per share for the current fiscal year.
Several analysts have recently commented on TBI shares. ValuEngine downgraded shares of Trueblue from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. TheStreet downgraded shares of Trueblue from a “b-” rating to a “c” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Trueblue from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. Finally, BMO Capital Markets reduced their price objective on shares of Trueblue from $30.00 to $29.00 and set a “market perform” rating for the company in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.67.
TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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