Zacks Investment Research upgraded shares of TrueBlue, Inc. (NYSE:TBI) from a sell rating to a hold rating in a research report report published on Wednesday, October 4th.
According to Zacks, “TRUEBLUE INC., headquartered in Tacoma, Wash., is the parent company of Labor Ready, Spartan Staffing, CLP Resources, and PlaneTechs. TrueBlue’s brands provide general labor, light industrial and skilled trades services to small to mid-sized businesses in the construction, warehousing, hospitality, landscaping, transportation, light manufacturing, retail, wholesale, facilities, sanitation, and aviation industries. “
Other equities analysts have also issued reports about the company. BidaskClub lowered TrueBlue from a hold rating to a sell rating in a research note on Thursday, August 3rd. TheStreet lowered TrueBlue from a b- rating to a c+ rating in a research note on Friday, August 18th. BMO Capital Markets restated a hold rating and set a $23.00 price target (down from $26.00) on shares of TrueBlue in a research note on Friday, August 11th. Finally, ValuEngine lowered TrueBlue from a buy rating to a hold rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. TrueBlue currently has an average rating of Hold and an average target price of $20.25.
TrueBlue (NYSE TBI) opened at 23.35 on Wednesday. The stock has a 50 day moving average price of $21.76 and a 200 day moving average price of $24.60. The stock has a market cap of $970.85 million, a PE ratio of 16.49 and a beta of 2.40. TrueBlue has a 52 week low of $16.50 and a 52 week high of $28.70.
TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The business had revenue of $610.10 million for the quarter, compared to analyst estimates of $610.04 million. During the same period in the previous year, the company posted $0.54 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities analysts predict that TrueBlue will post $1.69 earnings per share for the current year.
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In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of TrueBlue stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $23.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now directly owns 52,061 shares of the company’s stock, valued at $1,197,403. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in TBI. BlackRock Inc. boosted its holdings in shares of TrueBlue by 50,858.0% in the 1st quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock worth $141,280,000 after acquiring an additional 5,155,477 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of TrueBlue by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock worth $119,777,000 after acquiring an additional 627,033 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of TrueBlue by 114.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,085,196 shares of the business services provider’s stock worth $29,681,000 after acquiring an additional 579,545 shares in the last quarter. FMR LLC boosted its holdings in shares of TrueBlue by 32.5% in the 1st quarter. FMR LLC now owns 1,041,300 shares of the business services provider’s stock worth $28,480,000 after acquiring an additional 255,207 shares in the last quarter. Finally, Kennedy Capital Management Inc. acquired a new position in shares of TrueBlue in the 1st quarter worth approximately $5,531,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.
TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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