Pacific Ridge Capital Partners LLC Decreases Stock Holdings in TrueBlue, Inc. (NYSE:TBI)

Pacific Ridge Capital Partners LLC lessened its holdings in TrueBlue, Inc. (NYSE:TBI) by 20.7% during the 1st quarter, Holdings Channel reports. The firm owned 41,482 shares of the business services provider’s stock after selling 10,801 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in TrueBlue were worth $519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TBI. Pzena Investment Management LLC increased its position in TrueBlue by 27.2% during the fourth quarter. Pzena Investment Management LLC now owns 3,092,337 shares of the business services provider’s stock worth $47,436,000 after purchasing an additional 661,496 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of TrueBlue by 9.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 897,352 shares of the business services provider’s stock worth $13,765,000 after acquiring an additional 76,624 shares in the last quarter. Azarias Capital Management L.P. grew its holdings in TrueBlue by 196.7% during the 1st quarter. Azarias Capital Management L.P. now owns 886,121 shares of the business services provider’s stock valued at $11,094,000 after purchasing an additional 587,427 shares in the last quarter. American Century Companies Inc. grew its holdings in TrueBlue by 12.8% during the 3rd quarter. American Century Companies Inc. now owns 473,011 shares of the business services provider’s stock valued at $6,939,000 after purchasing an additional 53,517 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in TrueBlue by 0.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 358,787 shares of the business services provider’s stock valued at $4,492,000 after purchasing an additional 1,303 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

TrueBlue Stock Performance

Shares of TBI stock traded up $0.19 during trading on Friday, hitting $11.33. 235,581 shares of the company were exchanged, compared to its average volume of 319,813. The firm has a market capitalization of $346.36 million, a price-to-earnings ratio of -30.62, a P/E/G ratio of 13.26 and a beta of 1.51. The business’s 50-day simple moving average is $10.57 and its 200 day simple moving average is $11.71. TrueBlue, Inc. has a twelve month low of $9.12 and a twelve month high of $18.81.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, May 6th. The business services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.46. TrueBlue had a negative net margin of 0.63% and a positive return on equity of 3.02%. The company had revenue of $403.00 million for the quarter, compared to analyst estimates of $400.24 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. On average, equities analysts forecast that TrueBlue, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on TBI. BMO Capital Markets reiterated an “outperform” rating and set a $13.00 price objective on shares of TrueBlue in a research note on Monday, June 17th. Robert W. Baird lowered their target price on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th.

TrueBlue Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.