Legal & General Group Plc increased its holdings in shares of TrueBlue, Inc. (NYSE:TBI) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,182 shares of the business services provider’s stock after purchasing an additional 7,217 shares during the quarter. Legal & General Group Plc owned 0.20% of TrueBlue worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in TrueBlue by 192.1% in the first quarter. Russell Investments Group Ltd. now owns 137,474 shares of the business services provider’s stock valued at $3,760,000 after acquiring an additional 90,404 shares during the period. Great West Life Assurance Co. Can lifted its holdings in TrueBlue by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 58,860 shares of the business services provider’s stock valued at $1,606,000 after acquiring an additional 3,809 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in TrueBlue by 15.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 43,345 shares of the business services provider’s stock valued at $1,185,000 after acquiring an additional 5,815 shares during the period. First Trust Advisors LP bought a new position in TrueBlue in the first quarter valued at about $369,000. Finally, American Century Companies Inc. bought a new position in TrueBlue in the first quarter valued at about $520,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.
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TrueBlue, Inc. (NYSE TBI) opened at 21.50 on Friday. TrueBlue, Inc. has a 12-month low of $16.50 and a 12-month high of $28.70. The firm has a 50-day moving average price of $20.57 and a 200-day moving average price of $25.13. The company has a market cap of $893.93 million, a P/E ratio of 15.18 and a beta of 2.38.
TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The company had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $610.04 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s revenue was down 9.3% compared to the same quarter last year. On average, analysts forecast that TrueBlue, Inc. will post $1.69 earnings per share for the current fiscal year.
In other news, EVP Wayne W. Larkin sold 10,000 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.
A number of research analysts have weighed in on TBI shares. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. ValuEngine downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BMO Capital Markets reissued a “hold” rating and issued a $23.00 target price (down previously from $26.00) on shares of TrueBlue in a report on Friday, August 11th. BidaskClub downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. TrueBlue presently has an average rating of “Hold” and an average price target of $21.25.
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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