Guggenheim Capital LLC reduced its position in shares of Trueblue Inc (NYSE:TBI) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,738 shares of the business services provider’s stock after selling 33,021 shares during the period. Guggenheim Capital LLC owned approximately 0.14% of Trueblue worth $1,560,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new position in shares of Trueblue during the third quarter worth $117,000. Schroder Investment Management Group acquired a new position in shares of Trueblue during the fourth quarter worth $149,000. Jane Street Group LLC acquired a new position in shares of Trueblue during the third quarter worth $203,000. Stoneridge Investment Partners LLC acquired a new position in shares of Trueblue during the fourth quarter worth $241,000. Finally, Invictus RG acquired a new position in shares of Trueblue during the fourth quarter worth $266,000. Institutional investors and hedge funds own 94.67% of the company’s stock.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Trueblue from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a report on Tuesday, February 13th. BMO Capital Markets reiterated a “hold” rating and set a $30.00 price target on shares of Trueblue in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Trueblue currently has an average rating of “Hold” and a consensus price target of $28.67.
NYSE TBI opened at $27.25 on Friday. The firm has a market capitalization of $1,138.17, a P/E ratio of 15.63 and a beta of 2.15. Trueblue Inc has a twelve month low of $19.30 and a twelve month high of $29.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.02 and a quick ratio of 2.02.
Trueblue (NYSE:TBI) last posted its quarterly earnings data on Wednesday, February 7th. The business services provider reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The business had revenue of $669.63 million during the quarter, compared to the consensus estimate of $667.66 million. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. Trueblue’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. sell-side analysts anticipate that Trueblue Inc will post 2.21 EPS for the current fiscal year.
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Trueblue Company Profile
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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