Nuveen Asset Management LLC Raises Stake in TrueBlue, Inc. (NYSE:TBI)

Nuveen Asset Management LLC lifted its position in shares of TrueBlue, Inc. (NYSE:TBI) by 262.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 561,093 shares of the business services provider’s stock after purchasing an additional 406,405 shares during the quarter. Nuveen Asset Management LLC owned about 1.90% of TrueBlue worth $4,713,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TBI. SG Americas Securities LLC purchased a new stake in shares of TrueBlue during the 4th quarter worth about $108,000. Proficio Capital Partners LLC purchased a new stake in shares of TrueBlue during the 4th quarter worth about $116,000. MetLife Investment Management LLC boosted its holdings in TrueBlue by 23.5% in the 4th quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider’s stock worth $133,000 after acquiring an additional 3,028 shares during the period. Wells Fargo & Company MN boosted its holdings in TrueBlue by 24.7% in the 4th quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider’s stock worth $144,000 after acquiring an additional 3,393 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new position in TrueBlue in the 4th quarter worth approximately $252,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded TrueBlue from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd.

TrueBlue Stock Up 1.2%

NYSE TBI opened at $6.00 on Friday. The stock has a market cap of $179.18 million, a PE ratio of -1.44, a P/E/G ratio of 3.01 and a beta of 1.39. TrueBlue, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $12.29. The business has a 50 day moving average price of $4.93 and a two-hundred day moving average price of $6.49. The company has a quick ratio of 1.85, a current ratio of 1.73 and a debt-to-equity ratio of 0.02.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, May 5th. The business services provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). The company had revenue of $370.25 million during the quarter, compared to analysts’ expectations of $362.37 million. TrueBlue had a negative return on equity of 3.90% and a negative net margin of 8.02%. As a group, sell-side analysts predict that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

TrueBlue Profile

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.