TrueBlue, Inc. $TBI Stock: Pzena Investment Management LLC Lowers Position

Pzena Investment Management LLC lowered its position in shares of TrueBlue, Inc. (NYSE:TBI) by 7.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,846,983 shares of the business services provider’s stock after selling 243,825 shares during the quarter. Pzena Investment Management LLC owned approximately 0.09% of TrueBlue worth $26,192,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TBI. Fifth Third Bancorp purchased a new position in shares of TrueBlue in the 1st quarter worth about $41,000. Ieq Capital LLC purchased a new position in shares of TrueBlue during the 2nd quarter valued at about $78,000. Glenmede Trust Co. NA purchased a new position in shares of TrueBlue during the 1st quarter valued at about $53,000. Hsbc Holdings PLC purchased a new position in shares of TrueBlue during the 2nd quarter valued at about $105,000. Finally, Deutsche Bank AG bought a new stake in TrueBlue in the 2nd quarter worth approximately $195,000. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

TrueBlue Price Performance

TrueBlue stock opened at $12.20 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a fifty day simple moving average of $9.39 and a two-hundred day simple moving average of $6.88. TrueBlue, Inc. has a twelve month low of $3.18 and a twelve month high of $13.59.

TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, November 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.14. TrueBlue had a negative net margin of 2.55% and a negative return on equity of 2.86%. The business had revenue of $520.74 million during the quarter, compared to analyst estimates of $468.06 million. On average, research analysts predict that TrueBlue, Inc. will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TBI has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueBlue in a research note on Tuesday, September 29th. Robert W. Baird set a $9.50 price target on shares of TrueBlue in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of TrueBlue from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $9.50.

TrueBlue Profile

TrueBlue, Inc (NYSE:TBI) is a workforce solutions company that connects businesses with employees and provides staffing, recruiting and workforce management services. Its offerings support employers seeking temporary, contingent and permanent workers across a range of industries, including manufacturing, logistics, retail, hospitality, construction and other commercial sectors.

The company operates through several specialized brands. PeopleReady provides industrial and general labor staffing, while PeopleManagement offers on-site workforce management and contingent labor solutions.