TrueBlue, Inc. (NYSE:TBI) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday, October 6th.
Several other research firms have also recently weighed in on TBI. BMO Capital Markets reiterated a “hold” rating and issued a $23.00 price objective (down previously from $26.00) on shares of TrueBlue in a report on Friday, August 11th. Zacks Investment Research raised TrueBlue from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub lowered TrueBlue from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $25.00 price objective on shares of TrueBlue in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. TrueBlue presently has an average rating of “Hold” and an average price target of $20.25.
TrueBlue (TBI) opened at 23.45 on Friday. The company has a market cap of $975.00 million, a PE ratio of 16.56 and a beta of 2.40. TrueBlue has a 52-week low of $16.50 and a 52-week high of $28.70. The firm’s 50-day moving average price is $22.00 and its 200 day moving average price is $24.53.
TrueBlue (NYSE:TBI) last announced its earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $610.10 million for the quarter, compared to analyst estimates of $610.04 million. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. On average, equities analysts predict that TrueBlue will post $1.69 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by BBNS and is the property of of BBNS. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://baseballnewssource.com/markets/trueblue-inc-tbi-rating-increased-to-buy-at-valuengine/1703294.html.
In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of TrueBlue stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $23.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now owns 52,061 shares of the company’s stock, valued at approximately $1,197,403. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB bought a new stake in shares of TrueBlue in the 1st quarter worth $170,000. State of Alaska Department of Revenue increased its holdings in shares of TrueBlue by 79.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,371 shares of the business services provider’s stock worth $221,000 after purchasing an additional 3,711 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of TrueBlue in the 2nd quarter worth $236,000. Schroder Investment Management Group purchased a new position in shares of TrueBlue in the 1st quarter worth $251,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of TrueBlue in the 2nd quarter worth $244,000. 89.82% of the stock is owned by institutional investors and hedge funds.
TrueBlue Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for TrueBlue Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueBlue Inc. and related companies with our FREE daily email newsletter.