Thrivent Financial for Lutherans increased its stake in Trueblue Inc (NYSE:TBI) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,648 shares of the business services provider’s stock after buying an additional 1,630 shares during the quarter. Thrivent Financial for Lutherans owned about 0.09% of Trueblue worth $417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Trueblue by 24.5% in the first quarter. JPMorgan Chase & Co. now owns 1,415,594 shares of the business services provider’s stock worth $18,062,000 after buying an additional 278,302 shares during the last quarter. State Street Corp lifted its position in shares of Trueblue by 6.8% during the first quarter. State Street Corp now owns 1,319,051 shares of the business services provider’s stock worth $16,831,000 after purchasing an additional 83,761 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Trueblue by 10.5% during the fourth quarter. Janus Henderson Group PLC now owns 1,198,082 shares of the business services provider’s stock worth $28,826,000 after purchasing an additional 113,855 shares during the last quarter. Norges Bank bought a new stake in shares of Trueblue during the fourth quarter worth $21,440,000. Finally, Acadian Asset Management LLC lifted its position in shares of Trueblue by 31.1% during the first quarter. Acadian Asset Management LLC now owns 882,134 shares of the business services provider’s stock worth $11,254,000 after purchasing an additional 209,183 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

TBI stock opened at $15.06 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.17 and a quick ratio of 3.17. The business has a 50-day moving average price of $15.18 and a 200 day moving average price of $17.31. The company has a market capitalization of $529.25 million, a P/E ratio of -5.70 and a beta of 1.77. Trueblue Inc has a 1-year low of $12.02 and a 1-year high of $24.98.

Trueblue (NYSE:TBI) last posted its earnings results on Monday, May 4th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). Trueblue had a negative net margin of 4.14% and a positive return on equity of 12.19%. The company had revenue of $494.30 million during the quarter, compared to analysts’ expectations of $495.22 million. During the same quarter last year, the firm earned $0.27 EPS. Trueblue’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts anticipate that Trueblue Inc will post 0.2 earnings per share for the current fiscal year.

Several analysts have recently weighed in on TBI shares. ValuEngine upgraded Trueblue from a “sell” rating to a “hold” rating in a research report on Thursday, May 7th. Robert W. Baird decreased their target price on Trueblue from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. TheStreet downgraded Trueblue from a “c” rating to a “d” rating in a research report on Tuesday, May 5th. Sidoti downgraded Trueblue from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a research report on Friday, May 1st. Finally, BMO Capital Markets decreased their price objective on Trueblue from $20.00 to $15.00 and set a “market perform” rating for the company in a report on Monday, April 20th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.75.

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, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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Institutional Ownership by Quarter for Trueblue (NYSE:TBI)

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