TrueBlue, Inc. (NYSE:TBI) Shares Shorted: Short Interest Down 34.9% in October

TrueBlue, Inc. (NYSE:TBI) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 424,240 shares, a decrease of 34.9% from the September 30th total of 651,528 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 199,903 shares, the days-to-cover ratio is currently 2.1 days.

TrueBlue Trading Down 0.2%

Shares of NYSE TBI opened at $9.75 on Monday. TrueBlue has a 12 month low of $3.18 and a 12 month high of $11.03. The company has a market cap of $296.79 million, a price-to-earnings ratio of -5.19, a P/E/G ratio of 11.63 and a beta of 1.74. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $9.41 and a 200-day simple moving average of $6.77.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $443.00 million for the quarter, compared to the consensus estimate of $417.84 million. Sell-side analysts predict that TrueBlue will post 0.06 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on TBI. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research report on Tuesday, September 29th. Robert W. Baird set a $9.50 target price on shares of TrueBlue in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, TrueBlue presently has an average rating of “Hold” and an average target price of $7.75.

Institutional Investors Weigh In On TrueBlue

A number of large investors have recently made changes to their positions in TBI. Fifth Third Bancorp purchased a new stake in shares of TrueBlue in the 1st quarter valued at approximately $41,000. Ieq Capital LLC purchased a new position in TrueBlue during the 2nd quarter worth approximately $78,000. Glenmede Trust Co. NA purchased a new position in TrueBlue during the 1st quarter worth approximately $53,000. Hsbc Holdings PLC purchased a new position in TrueBlue during the 2nd quarter worth approximately $105,000. Finally, Deutsche Bank AG acquired a new stake in TrueBlue during the 2nd quarter valued at $195,000. Institutional investors and hedge funds own 97.15% of the company’s stock.

TrueBlue Company Profile

TrueBlue, Inc (NYSE:TBI) is a workforce solutions company that connects businesses with employees and provides staffing, recruiting and workforce management services. Its offerings support employers seeking temporary, contingent and permanent workers across a range of industries, including manufacturing, logistics, retail, hospitality, construction and other commercial sectors.

The company operates through several specialized brands. PeopleReady provides industrial and general labor staffing, while PeopleManagement offers on-site workforce management and contingent labor solutions.