3,090,808 Shares in TrueBlue, Inc. $TBI Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC purchased a new stake in shares of TrueBlue, Inc. (NYSE:TBI) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 3,090,808 shares of the business services provider’s stock, valued at approximately $21,543,000. Pzena Investment Management LLC owned about 0.10% of TrueBlue as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TBI. Fifth Third Bancorp purchased a new stake in TrueBlue in the 1st quarter worth approximately $41,000. Dynamic Technology Lab Private Ltd purchased a new stake in TrueBlue in the 4th quarter worth $48,000. Simplex Trading LLC increased its stake in shares of TrueBlue by 56.9% during the fourth 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. Glenmede Trust Co. NA purchased a new stake in TrueBlue during the 1st quarter worth approximately $53,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of TrueBlue during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

TrueBlue Trading Down 3.1%

Shares of TrueBlue stock opened at $9.91 on Tuesday. The stock has a market cap of $301.66 million, a P/E ratio of -5.27, a P/E/G ratio of 12.18 and a beta of 1.60. The stock’s 50 day simple moving average is $7.90 and its 200-day simple moving average is $5.83. TrueBlue, Inc. has a 1-year low of $3.18 and a 1-year high of $10.73. 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 posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $443.00 million during the quarter, compared to analyst estimates of $417.84 million. Analysts predict that TrueBlue, Inc. will post 0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Zacks Research upgraded TrueBlue from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings raised shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. Wall Street Zen raised shares of TrueBlue from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Robert W. Baird set a $9.50 target price on shares of TrueBlue in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TrueBlue has an average rating of “Hold” and an average price target of $7.75.

TrueBlue Company 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.