Corton Capital Inc. Acquires New Position in TrueBlue, Inc. $TBI

Corton Capital Inc. acquired a new stake in shares of TrueBlue, Inc. (NYSE:TBI) in the second quarter, HoldingsChannel reports. The fund acquired 11,792 shares of the business services provider’s stock, valued at approximately $76,000.

A number of other institutional investors have also modified their holdings of TBI. Bank of New York Mellon Corp grew its position in shares of TrueBlue by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 89,696 shares of the business services provider’s stock valued at $476,000 after buying an additional 3,130 shares during the last quarter. Peapod Lane Capital LLC bought a new position in TrueBlue in the 1st quarter worth about $1,385,000. Pzena Investment Management LLC grew its position in TrueBlue by 1.7% in the 1st quarter. Pzena Investment Management LLC now owns 2,835,167 shares of the business services provider’s stock worth $15,055,000 after purchasing an additional 46,539 shares during the last quarter. AE Wealth Management LLC grew its position in TrueBlue by 55.2% in the 1st quarter. AE Wealth Management LLC now owns 19,616 shares of the business services provider’s stock worth $104,000 after purchasing an additional 6,973 shares during the last quarter. Finally, Royce & Associates LP grew its position in TrueBlue by 23.5% in the 1st quarter. Royce & Associates LP now owns 1,880,732 shares of the business services provider’s stock worth $9,987,000 after purchasing an additional 357,539 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

Wall Street Analysts Forecast Growth

TBI has been the subject of several recent analyst reports. BMO Capital Markets decreased their target price on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.00.

TrueBlue Trading Down 7.2%

TrueBlue stock opened at $5.10 on Thursday. The firm has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $5.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.94 and a quick ratio of 1.94. The stock has a market capitalization of $152.35 million, a PE ratio of -4.43 and a beta of 1.55. TrueBlue, Inc. has a 12-month low of $3.45 and a 12-month high of $9.05.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, November 3rd. The business services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.12. The business had revenue of $431.27 million during the quarter, compared to analysts’ expectations of $409.01 million. TrueBlue had a negative net margin of 2.21% and a negative return on equity of 5.74%. TrueBlue has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

TrueBlue Company Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.