Analysts Set TrueBlue, Inc. (TBI) Target Price at $23.33
Shares of TrueBlue, Inc. (NYSE:TBI) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $23.33.
A number of equities analysts have recently commented on the company. Zacks Investment Research cut TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday. BMO Capital Markets boosted their price objective on TrueBlue from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday. Robert W. Baird boosted their price objective on TrueBlue from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. ValuEngine upgraded TrueBlue from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Finally, TheStreet cut TrueBlue from a “b-” rating to a “c+” rating in a report on Friday, August 18th.
In related news, EVP Wayne W. Larkin sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 52,061 shares in the company, valued at approximately $1,197,403. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. bought a new stake in TrueBlue during the 1st quarter valued at $578,000. Karp Capital Management Corp bought a new stake in TrueBlue during the 1st quarter valued at $261,000. Principal Financial Group Inc. raised its position in TrueBlue by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 329,477 shares of the business services provider’s stock valued at $9,011,000 after purchasing an additional 7,746 shares in the last quarter. Wellington Management Group LLP bought a new stake in TrueBlue during the 1st quarter valued at $715,000. Finally, FMR LLC raised its position in TrueBlue by 32.5% during the 1st quarter. FMR LLC now owns 1,041,300 shares of the business services provider’s stock valued at $28,480,000 after purchasing an additional 255,207 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.
Shares of TrueBlue (NYSE:TBI) traded up $0.35 during trading on Thursday, hitting $26.85. The stock had a trading volume of 306,028 shares, compared to its average volume of 263,611. The stock has a market cap of $1,110.57, a PE ratio of 15.00 and a beta of 2.37. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.20. TrueBlue has a 12-month low of $16.75 and a 12-month high of $28.70.
TrueBlue (NYSE:TBI) last announced its earnings results on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The firm had revenue of $660.78 million during the quarter, compared to analysts’ expectations of $651.91 million. TrueBlue had a return on equity of 14.05% and a net margin of 2.22%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. equities analysts expect that TrueBlue will post 1.7 EPS for the current year.
TrueBlue declared that its board has initiated a share buyback plan on Monday, October 30th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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.
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