Marquette Asset Management LLC Acquires Shares of 82,019 TrueBlue, Inc. $TBI

Marquette Asset Management LLC acquired a new stake in TrueBlue, Inc. (NYSE:TBI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 82,019 shares of the business services provider’s stock, valued at approximately $572,000.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in TrueBlue during the first quarter valued at approximately $41,000. Dynamic Technology Lab Private Ltd acquired a new position in TrueBlue in the fourth quarter valued at approximately $48,000. Federated Hermes Inc. purchased a new stake in TrueBlue in the 2nd quarter worth approximately $69,000. Simplex Trading LLC boosted its position in TrueBlue by 56.9% in the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock worth $50,000 after purchasing an additional 3,995 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of TrueBlue during the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

TBI has been the topic of a number of recent analyst reports. Zacks Research raised shares of TrueBlue from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Robert W. Baird set a $9.50 price objective on shares of TrueBlue in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings raised shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.75.

TrueBlue Stock Up 3.7%

Shares of NYSE TBI opened at $10.58 on Tuesday. The firm has a market cap of $322.06 million, a price-to-earnings ratio of -5.63, a price-to-earnings-growth ratio of 12.14 and a beta of 1.60. The company’s 50-day simple moving average is $7.56 and its 200-day simple moving average is $5.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.32. TrueBlue, Inc. has a 52-week low of $3.18 and a 52-week high of $10.74.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The firm had revenue of $443.00 million during the quarter, compared to the consensus estimate of $417.84 million. TrueBlue had a negative net margin of 3.35% and a negative return on equity of 6.26%. Equities analysts predict that TrueBlue, Inc. will post 0.06 EPS for the current fiscal year.

TrueBlue Profile

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.