TrueBlue (NYSE:TBI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TrueBlue (NYSE:TBI) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Zacks Research raised TrueBlue from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings upgraded shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Finally, Robert W. Baird set a $9.50 price objective on shares of TrueBlue in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, TrueBlue currently has a consensus rating of “Hold” and a consensus target price of $7.75.

TrueBlue Price Performance

NYSE TBI opened at $10.58 on Friday. The firm’s fifty day simple moving average is $7.56 and its two-hundred day simple moving average is $5.66. The firm has a market capitalization of $322.06 million, a P/E ratio of -5.63, a P/E/G ratio of 12.14 and a beta of 1.60. 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 $10.74.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%.The firm had revenue of $443.00 million during the quarter, compared to analysts’ expectations of $417.84 million. Analysts forecast that TrueBlue will post 0.06 EPS for the current fiscal year.

Institutional Trading of TrueBlue

Large investors have recently made changes to their positions in the business. Fifth Third Bancorp acquired a new position in TrueBlue during the first quarter valued at $41,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of TrueBlue during the 4th quarter valued at about $48,000. Federated Hermes Inc. acquired a new position in shares of TrueBlue in the 2nd quarter valued at about $69,000. Simplex Trading LLC boosted its stake in shares of TrueBlue by 56.9% in the fourth quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock worth $50,000 after buying an additional 3,995 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in TrueBlue during the fourth quarter valued at approximately $53,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

About TrueBlue

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.