Trueblue Inc (NYSE:TBI) has been assigned an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $29.33.
A number of analysts recently commented on the company. Zacks Investment Research lowered Trueblue from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. TheStreet raised Trueblue from a “c” rating to a “b-” rating in a research note on Wednesday, August 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $28.00 price target on shares of Trueblue in a research note on Tuesday, July 31st. ValuEngine raised Trueblue from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Finally, Credit Suisse Group assumed coverage on Trueblue in a research note on Friday, August 10th. They issued a “neutral” rating and a $31.00 price target for the company.
Shares of TBI stock opened at $26.05 on Friday. Trueblue has a 52 week low of $22.30 and a 52 week high of $29.85. The firm has a market capitalization of $1.04 billion, a P/E ratio of 14.97 and a beta of 1.88. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.21.
Trueblue (NYSE:TBI) last announced its quarterly earnings results on Monday, July 30th. The business services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Trueblue had a return on equity of 14.66% and a net margin of 2.57%. The company had revenue of $614.30 million during the quarter, compared to analyst estimates of $601.43 million. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. sell-side analysts anticipate that Trueblue will post 2.23 EPS for the current fiscal year.
In other Trueblue news, CEO Steven C. Cooper sold 55,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $28.35, for a total transaction of $1,559,250.00. Following the completion of the transaction, the chief executive officer now owns 196,983 shares of the company’s stock, valued at $5,584,468.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James E. Defebaugh sold 10,000 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $27.08, for a total value of $270,800.00. The disclosure for this sale can be found here. Insiders have sold 66,211 shares of company stock valued at $1,864,564 in the last three months. Insiders own 2.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. United Services Automobile Association lifted its position in Trueblue by 62.6% during the second quarter. United Services Automobile Association now owns 92,883 shares of the business services provider’s stock valued at $2,503,000 after buying an additional 35,751 shares during the period. Northern Trust Corp lifted its position in Trueblue by 8.1% during the second quarter. Northern Trust Corp now owns 564,842 shares of the business services provider’s stock valued at $15,222,000 after buying an additional 42,239 shares during the period. Public Employees Retirement System of Ohio lifted its position in Trueblue by 16.2% during the second quarter. Public Employees Retirement System of Ohio now owns 34,410 shares of the business services provider’s stock valued at $927,000 after buying an additional 4,806 shares during the period. Tower Research Capital LLC TRC purchased a new position in Trueblue during the second quarter valued at $134,000. Finally, Signaturefd LLC lifted its position in Trueblue by 50.0% during the second quarter. Signaturefd LLC now owns 11,009 shares of the business services provider’s stock valued at $297,000 after buying an additional 3,670 shares during the period. 91.96% of the stock is owned by institutional investors and hedge funds.
TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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