TrueBlue, Inc. (NYSE:TBI) Stock Short Interest Declines 34.9%

by · The Markets Daily

TrueBlue, Inc. (NYSE:TBI – Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 424,240 shares, a drop of 34.9% from the September 30th total of 651,528 shares. Based on an average daily volume of 199,903 shares, the short-interest ratio is currently 2.1 days. Approximately 1.5% of the company’s stock are sold short.

TrueBlue Price Performance

NYSE:TBI opened at $9.58 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.32. TrueBlue has a 12 month low of $3.18 and a 12 month high of $11.03. The business’s 50-day moving average is $9.37 and its 200 day moving average is $6.82.

TrueBlue (NYSE:TBI – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $443.00 million during the quarter, compared to the consensus estimate of $417.84 million. TrueBlue had a negative net margin of 3.35% and a negative return on equity of 6.26%. On average, research analysts expect that TrueBlue will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueBlue

A number of institutional investors and hedge funds have recently bought and sold shares of TBI. Fifth Third Bancorp bought a new stake in shares of TrueBlue in the first quarter valued at about $41,000. Ieq Capital LLC bought a new position in TrueBlue during the 2nd quarter worth about $78,000. Glenmede Trust Co. NA bought a new position in TrueBlue during the 1st quarter worth about $53,000. Hsbc Holdings PLC bought a new position in TrueBlue during the 2nd quarter worth about $105,000. Finally, Deutsche Bank AG purchased a new position in TrueBlue during the 2nd quarter valued at about $195,000. 97.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TBI. Weiss Ratings reissued a “sell (d-)” rating on shares of TrueBlue in a report on Tuesday, September 29th. Wall Street Zen raised TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird set a $9.50 target price on TrueBlue in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TrueBlue currently has an average rating of “Hold” and a consensus price target of $7.75.

View Our Latest Stock Analysis on TBI

TrueBlue Company Profile

(Get Free Report)

TrueBlue, Inc (NYSE:TBI) is a workforce solutions company that connects businesses with employees and provides staffing, recruiting and workforce management services. Its offerings support employers seeking temporary, contingent and permanent workers across a range of industries, including manufacturing, logistics, retail, hospitality, construction and other commercial sectors.

The company operates through several specialized brands. PeopleReady provides industrial and general labor staffing, while PeopleManagement offers on-site workforce management and contingent labor solutions.

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