TrueBlue, Inc. $TBI Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in TrueBlue, Inc. (NYSE:TBI) by 128.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,934 shares of the business services provider’s stock after buying an additional 124,334 shares during the quarter. Renaissance Technologies LLC’s holdings in TrueBlue were worth $864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBI. Fifth Third Bancorp purchased a new position in shares of TrueBlue in the first quarter worth approximately $41,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TrueBlue in the 4th quarter valued at approximately $48,000. Simplex Trading LLC lifted its position in shares of TrueBlue by 56.9% in the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 3,995 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in TrueBlue in the 4th quarter worth approximately $53,000. Finally, Jain Global LLC acquired a new position in TrueBlue in the 4th quarter worth approximately $58,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TrueBlue Stock Performance

Shares of TBI opened at $10.23 on Friday. The company’s 50 day moving average price is $7.83 and its 200 day moving average price is $5.79. TrueBlue, Inc. has a 52 week low of $3.18 and a 52 week high of $10.73. The company has a market capitalization of $311.41 million, a PE ratio of -5.44, a PEG ratio of 12.18 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.28 and a current ratio of 2.28.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. The firm had revenue of $443.00 million for the quarter, compared to analyst estimates of $417.84 million. TrueBlue had a negative net margin of 3.35% and a negative return on equity of 6.26%. Research analysts expect 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.