Citigroup Inc. lessened its holdings in shares of Trueblue Inc (NYSE:TBI) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,946 shares of the business services provider’s stock after selling 10,417 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Trueblue worth $1,223,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in TBI. BlackRock Inc. grew its stake in Trueblue by 2.8% in the fourth quarter. BlackRock Inc. now owns 5,923,224 shares of the business services provider’s stock worth $131,792,000 after purchasing an additional 163,145 shares during the period. Vanguard Group Inc. grew its stake in Trueblue by 3.3% in the third quarter. Vanguard Group Inc. now owns 4,801,552 shares of the business services provider’s stock worth $125,080,000 after purchasing an additional 151,841 shares during the period. Vanguard Group Inc grew its stake in Trueblue by 3.3% in the third quarter. Vanguard Group Inc now owns 4,801,552 shares of the business services provider’s stock worth $125,080,000 after purchasing an additional 151,841 shares during the period. Dimensional Fund Advisors LP grew its stake in Trueblue by 8.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,767,807 shares of the business services provider’s stock worth $72,100,000 after purchasing an additional 220,911 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Trueblue in the third quarter worth $19,464,000. Institutional investors own 93.13% of the company’s stock.
In other news, CFO Derrek Lane Gafford sold 25,000 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $23.62, for a total value of $590,500.00. Following the sale, the chief financial officer now directly owns 128,218 shares of the company’s stock, valued at $3,028,509.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Several equities research analysts recently weighed in on TBI shares. TheStreet cut Trueblue from a “b-” rating to a “c” rating in a research note on Monday, December 31st. Zacks Investment Research cut Trueblue from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. BMO Capital Markets reduced their price target on Trueblue from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, February 11th. Finally, ValuEngine cut Trueblue from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.00.
NYSE TBI opened at $22.88 on Friday. Trueblue Inc has a 12 month low of $20.56 and a 12 month high of $29.85. The firm has a market capitalization of $905.58 million, a PE ratio of 10.04 and a beta of 1.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.91 and a current ratio of 1.91.
Trueblue (NYSE:TBI) last released its earnings results on Thursday, February 7th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Trueblue had a return on equity of 15.95% and a net margin of 2.63%. The firm had revenue of $650.15 million for the quarter, compared to analysts’ expectations of $649.93 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Trueblue Inc will post 2.32 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Trueblue Inc (TBI) Position Lowered by Citigroup Inc.” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2019/03/17/trueblue-inc-tbi-position-lowered-by-citigroup-inc.html.
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, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
Featured Article: Marijuana Stocks Future Looks Bright
Receive News & Ratings for Trueblue Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trueblue and related companies with MarketBeat.com's FREE daily email newsletter.