LSV Asset Management grew its holdings in Trueblue Inc (NYSE:TBI) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 272,000 shares of the business services provider’s stock after buying an additional 16,725 shares during the quarter. LSV Asset Management owned 0.67% of Trueblue worth $7,085,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Trueblue in the 2nd quarter valued at $215,000. Itau Unibanco Holding S.A. acquired a new position in shares of Trueblue in the 2nd quarter valued at $129,000. SG Americas Securities LLC raised its stake in shares of Trueblue by 54.2% in the 2nd quarter. SG Americas Securities LLC now owns 23,126 shares of the business services provider’s stock valued at $623,000 after buying an additional 8,126 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Trueblue by 17.5% in the 3rd quarter. Bank of Montreal Can now owns 138,482 shares of the business services provider’s stock valued at $3,607,000 after buying an additional 20,592 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Trueblue by 158.7% in the 2nd quarter. KBC Group NV now owns 37,963 shares of the business services provider’s stock valued at $1,023,000 after buying an additional 23,289 shares in the last quarter. Institutional investors own 92.95% of the company’s stock.
A number of brokerages have recently issued reports on TBI. ValuEngine upgraded shares of Trueblue from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Zacks Investment Research cut shares of Trueblue from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. Credit Suisse Group dropped their price objective on shares of Trueblue from $31.00 to $25.00 and set a “hold” rating for the company in a research note on Tuesday, November 6th. TheStreet upgraded shares of Trueblue from a “c” rating to a “b-” rating in a research note on Wednesday, August 1st. Finally, Robert W. Baird restated a “hold” rating and issued a $28.00 price objective on shares of Trueblue in a research note on Tuesday, July 31st. Five analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $27.25.
Trueblue (NYSE:TBI) last announced its earnings results on Monday, November 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $680.40 million during the quarter, compared to analysts’ expectations of $672.74 million. Trueblue had a net margin of 2.67% and a return on equity of 15.62%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. As a group, equities research analysts forecast that Trueblue Inc will post 2.26 EPS for the current fiscal year.
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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