TrueBlue, Inc. (TBI) Stock Rating Upgraded by ValuEngine

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.

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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.

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