374,742 TrueBlue, Inc. $TBI Shares Sold by Azarias Capital Management L.P.

Azarias Capital Management L.P. cut its holdings in shares of TrueBlue, Inc. (NYSE:TBI) by 49.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 384,599 shares of the business services provider’s stock after selling 374,742 shares during the quarter. TrueBlue makes up approximately 3.3% of Azarias Capital Management L.P.’s portfolio, making the stock its 10th largest holding. Azarias Capital Management L.P.’s holdings in TrueBlue were worth $3,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TBI. Pzena Investment Management LLC purchased a new position in shares of TrueBlue in the second quarter worth about $21,543,000. BlackRock Inc. bought a new stake in shares of TrueBlue in the second quarter valued at approximately $15,550,000. Bank of America Corp DE bought a new stake in shares of TrueBlue in the second quarter valued at approximately $2,225,000. Manatuck Hill Partners LLC purchased a new stake in shares of TrueBlue during the 2nd quarter valued at approximately $1,115,000. Finally, Renaissance Technologies LLC lifted its stake in shares of TrueBlue by 128.7% during the 1st quarter. Renaissance Technologies LLC now owns 220,934 shares of the business services provider’s stock valued at $864,000 after buying an additional 124,334 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TBI shares. Wall Street Zen raised shares of TrueBlue from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of TrueBlue in a report on Tuesday, September 29th. Finally, Robert W. Baird set a $9.50 target price on shares of TrueBlue in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TrueBlue presently has a consensus rating of “Hold” and a consensus price target of $7.75.

TrueBlue Price Performance

Shares of NYSE:TBI traded down $0.02 on Wednesday, hitting $8.81. The company’s stock had a trading volume of 272,217 shares, compared to its average volume of 313,284. The company has a 50-day simple moving average of $9.72 and a 200 day simple moving average of $7.37. TrueBlue, Inc. has a 1 year low of $3.18 and a 1 year high of $11.03. The company has a market capitalization of $268.18 million, a PE ratio of -4.69, a PEG ratio of 10.49 and a beta of 1.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28.

TrueBlue (NYSE:TBI) last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%. The company had revenue of $443.00 million during the quarter, compared to analyst estimates of $417.84 million. Sell-side analysts forecast that TrueBlue, Inc. will post 0.06 EPS for the current fiscal year.

TrueBlue Company Profile

TrueBlue, Inc (NYSE:TBI) is a workforce solutions provider that connects businesses with workers and helps organizations manage their staffing and talent needs. The company serves a range of industries, including manufacturing, construction, logistics, hospitality, retail and healthcare.

TrueBlue operates through brands that provide temporary and contingent staffing, workforce management and recruitment process outsourcing services. Its PeopleReady business supplies flexible labor for industrial and other hourly roles, while PeopleScout provides talent acquisition services, including recruitment process outsourcing and workforce consulting.

The company was founded in 1989 as Labor Ready and adopted the TrueBlue name in 2007.