TrueBlue, Inc. (NYSE:TBI) Sees Significant Decrease in Short Interest

TrueBlue, Inc. (NYSE:TBI) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 828,800 shares, a drop of 17.9% from the December 31st total of 1,010,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average trading volume of 181,800 shares, the short-interest ratio is currently 4.6 days.

TrueBlue Stock Performance

NYSE TBI traded up $0.06 during trading hours on Thursday, hitting $8.12. 91,305 shares of the company’s stock were exchanged, compared to its average volume of 122,063. The firm has a market capitalization of $239.88 million, a P/E ratio of -2.11, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43. The business’s 50 day moving average is $7.97 and its 200-day moving average is $8.17. TrueBlue has a 12-month low of $6.63 and a 12-month high of $14.18.

TrueBlue (NYSE:TBI) last released its earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $382.36 million for the quarter, compared to analysts’ expectations of $386.07 million. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. As a group, equities research analysts anticipate that TrueBlue will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded TrueBlue from a “sell” rating to a “hold” rating in a report on Friday, December 27th. BMO Capital Markets lowered their target price on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th.

Institutional Trading of TrueBlue

A number of institutional investors have recently added to or reduced their stakes in TBI. Royce & Associates LP lifted its position in shares of TrueBlue by 28.5% during the third quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after purchasing an additional 239,740 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in TrueBlue by 230.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock worth $368,000 after buying an additional 32,542 shares in the last quarter. Barclays PLC boosted its position in TrueBlue by 95.7% in the 3rd quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock valued at $531,000 after buying an additional 32,940 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of TrueBlue by 33.1% during the third quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock valued at $3,049,000 after acquiring an additional 96,072 shares in the last quarter. Finally, State Street Corp increased its position in shares of TrueBlue by 0.3% during the third quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock worth $5,254,000 after acquiring an additional 1,968 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

About TrueBlue

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.