Trueblue Inc (NYSE:TBI) Sees Significant Decrease in Short Interest

Trueblue Inc (NYSE:TBI) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 875,300 shares, a decrease of 11.3% from the January 15th total of 986,700 shares. Based on an average daily volume of 170,800 shares, the short-interest ratio is currently 5.1 days. Approximately 2.3% of the shares of the company are short sold.

Trueblue stock traded down $0.11 during trading on Friday, hitting $16.72. The stock had a trading volume of 297,900 shares, compared to its average volume of 232,443. Trueblue has a 1 year low of $16.10 and a 1 year high of $25.75. The company has a quick ratio of 1.88, a current ratio of 1.83 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $22.07 and its two-hundred day moving average is $21.77. The stock has a market cap of $635.36 million, a price-to-earnings ratio of 10.39 and a beta of 1.69.

Trueblue (NYSE:TBI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Trueblue had a net margin of 2.66% and a return on equity of 13.06%. The firm had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $601.26 million. During the same quarter in the previous year, the company posted $0.61 EPS. Trueblue’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Trueblue will post 1.74 EPS for the current fiscal year.

Several equities analysts recently commented on the company. TheStreet downgraded Trueblue from a “b-” rating to a “c” rating in a research note on Thursday, February 6th. Zacks Investment Research downgraded Trueblue from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Sidoti dropped their price objective on Trueblue from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $24.33.

Institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its stake in Trueblue by 26.1% in the third quarter. Barclays PLC now owns 64,688 shares of the business services provider’s stock valued at $1,366,000 after purchasing an additional 13,407 shares during the last quarter. California Public Employees Retirement System raised its holdings in Trueblue by 29.5% during the 3rd quarter. California Public Employees Retirement System now owns 103,065 shares of the business services provider’s stock valued at $2,175,000 after acquiring an additional 23,477 shares during the period. California State Teachers Retirement System raised its holdings in Trueblue by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 62,121 shares of the business services provider’s stock valued at $1,311,000 after acquiring an additional 742 shares during the period. Chartwell Investment Partners LLC raised its holdings in Trueblue by 0.6% during the 4th quarter. Chartwell Investment Partners LLC now owns 574,462 shares of the business services provider’s stock valued at $13,822,000 after acquiring an additional 3,525 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Trueblue by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 63,400 shares of the business services provider’s stock valued at $1,338,000 after acquiring an additional 479 shares during the period. Institutional investors and hedge funds own 92.07% of the company’s stock.

About Trueblue

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, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

Read More: Why do analysts give a neutral rating?

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