SG Americas Securities LLC grew its stake in shares of Trueblue Inc (NYSE:TBI) by 109.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,466 shares of the business services provider’s stock after buying an additional 25,340 shares during the period. SG Americas Securities LLC owned 0.12% of Trueblue worth $1,263,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in Trueblue by 1.5% during the first quarter. Principal Financial Group Inc. now owns 325,221 shares of the business services provider’s stock worth $8,423,000 after buying an additional 4,778 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in Trueblue during the second quarter worth about $389,000. Janney Montgomery Scott LLC bought a new position in Trueblue during the second quarter worth about $751,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Trueblue by 18.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 30,550 shares of the business services provider’s stock worth $823,000 after purchasing an additional 4,700 shares during the period. Finally, First Trust Advisors LP boosted its position in Trueblue by 4.8% during the second quarter. First Trust Advisors LP now owns 70,554 shares of the business services provider’s stock worth $1,901,000 after purchasing an additional 3,217 shares during the period. 92.96% of the stock is owned by institutional investors.
Shares of NYSE:TBI opened at $24.14 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market cap of $973.27 million, a price-to-earnings ratio of 11.03 and a beta of 1.90. Trueblue Inc has a twelve month low of $22.34 and a twelve month high of $29.85.
Trueblue (NYSE:TBI) last issued its earnings results on Monday, November 5th. The business services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $680.40 million during the quarter, compared to analyst estimates of $672.74 million. Trueblue had a net margin of 2.67% and a return on equity of 15.62%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. Analysts predict that Trueblue Inc will post 2.26 EPS for the current fiscal year.
A number of equities analysts have weighed in on TBI shares. Credit Suisse Group started coverage on shares of Trueblue in a research report on Friday, August 10th. They set a “neutral” rating and a $31.00 target price for the company. ValuEngine lowered shares of Trueblue from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Zacks Investment Research upgraded shares of Trueblue from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, November 8th. Five research analysts have rated the stock with a hold rating, Trueblue has an average rating of “Hold” and an average target price of $27.25.
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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