Marquette Asset Management LLC Buys Shares of 82,019 TrueBlue, Inc. $TBI

Marquette Asset Management LLC purchased a new stake in TrueBlue, Inc. (NYSE:TBI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 82,019 shares of the business services provider’s stock, valued at approximately $572,000. Marquette Asset Management LLC owned approximately 0.27% of TrueBlue as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners increased its holdings in TrueBlue by 37.6% during the fourth quarter. Boston Partners now owns 2,220,850 shares of the business services provider’s stock valued at $10,106,000 after buying an additional 606,446 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in TrueBlue by 32.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider’s stock worth $9,156,000 after buying an additional 492,984 shares during the period. Azarias Capital Management L.P. lifted its holdings in TrueBlue by 1.3% during the first quarter. Azarias Capital Management L.P. now owns 1,001,950 shares of the business services provider’s stock worth $3,918,000 after buying an additional 13,070 shares during the period. Geode Capital Management LLC boosted its position in TrueBlue by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after acquiring an additional 3,269 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in TrueBlue by 80.8% during the 4th quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock valued at $2,986,000 after acquiring an additional 293,363 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.

TrueBlue Price Performance

Shares of NYSE TBI opened at $10.58 on Tuesday. TrueBlue, Inc. has a 52 week low of $3.18 and a 52 week high of $10.74. The business’s 50 day moving average price is $7.56 and its 200 day moving average price is $5.66. 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 firm has a market cap of $322.06 million, a P/E ratio of -5.63, a P/E/G ratio of 12.14 and a beta of 1.60.

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, topping analysts’ consensus estimates of ($0.10) by $0.16. TrueBlue had a negative net margin of 3.35% and a negative return on equity of 6.26%. The company had revenue of $443.00 million during the quarter, compared to analyst estimates of $417.84 million. On average, sell-side analysts expect that TrueBlue, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TBI shares. Zacks Research raised TrueBlue from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings raised TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. Robert W. Baird set a $9.50 target price on 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. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.75.

About TrueBlue

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.