Could Trueblue Inc (NYSE:TBI) Skyrocket? The Stock Has Too Many Sellers

April 16, 2018 - By Marguerite Chambers

TrueBlue, Inc. (NYSE:TBI) Logo

Investors sentiment decreased to 0.88 in 2017 Q4. Its down 0.55, from 1.43 in 2017Q3. It turned negative, as 19 investors sold TrueBlue, Inc. shares while 71 reduced holdings. 29 funds opened positions while 50 raised stakes. 37.08 million shares or 0.26% less from 37.18 million shares in 2017Q3 were reported.
Sei Invs stated it has 58,710 shares. Moreover, Great West Life Assurance Can has 0% invested in TrueBlue, Inc. (NYSE:TBI). State Board Of Administration Of Florida Retirement invested in 0% or 43,510 shares. First Tru Ltd Partnership stated it has 0.01% in TrueBlue, Inc. (NYSE:TBI). Thrivent Financial For Lutherans holds 0.02% or 221,384 shares in its portfolio. 68,700 are owned by James Invest Research. Aperio Ltd invested in 15,558 shares or 0% of the stock. Cornerstone Capital Mgmt Holding Llc reported 0.04% in TrueBlue, Inc. (NYSE:TBI). State Of Tennessee Treasury Department stated it has 33,250 shares. Piedmont Investment Ltd reported 8,502 shares. Geode Mngmt Ltd Liability stated it has 0% in TrueBlue, Inc. (NYSE:TBI). Pennsylvania-based Cim Inv Mangement has invested 0.14% in TrueBlue, Inc. (NYSE:TBI). Royal Commercial Bank Of Canada owns 5,500 shares for 0% of their portfolio. Morgan Stanley reported 157,464 shares. Price T Rowe Associate Md reported 0% stake.

The stock of Trueblue Inc (NYSE:TBI) registered an increase of 18.14% in short interest. TBI’s total short interest was 570,600 shares in April as published by FINRA. Its up 18.14% from 483,000 shares, reported previously. With 210,200 shares average volume, it will take short sellers 3 days to cover their TBI’s short positions. The short interest to Trueblue Inc’s float is 1.42%.

The stock decreased 0.37% or $0.1 during the last trading session, reaching $26.95. About 26,179 shares traded. TrueBlue, Inc. (NYSE:TBI) has declined 4.66% since April 16, 2017 and is downtrending. It has underperformed by 16.21% the S&P500.

TrueBlue, Inc. provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. The company has market cap of $1.07 billion. It operates through three divisions: PeopleReady, PeopleManagement, and PeopleScout. It has a 20.11 P/E ratio. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in retail, manufacturing, warehousing, logistics, energy, construction, hospitality, and other industries under Labor Ready, CLP Resources, and Spartan Staffing brand names.

TrueBlue, Inc. (NYSE:TBI) Ratings Coverage

Among 2 analysts covering TrueBlue (NYSE:TBI), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. TrueBlue had 5 analyst reports since October 31, 2017 according to SRatingsIntel. BMO Capital Markets maintained TrueBlue, Inc. (NYSE:TBI) on Thursday, February 8 with “Market Perform” rating. The firm has “Market Perform” rating given on Wednesday, November 1 by BMO Capital Markets. Robert W. Baird maintained it with “Neutral” rating and $26 target in Tuesday, October 31 report. The rating was maintained by BMO Capital Markets with “Hold” on Monday, January 22. The rating was maintained by Robert W. Baird with “Hold” on Wednesday, February 7.

TrueBlue, Inc. (NYSE:TBI) Institutional Positions Chart

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