TrueBlue, Inc. (NYSE:TBI) had its price target hoisted by Robert W. Baird from $25.00 to $26.00 in a report published on Tuesday. The firm currently has a neutral rating on the business services provider’s stock.

Several other research analysts have also commented on the stock. BMO Capital Markets reaffirmed a hold rating and set a $23.00 price objective on shares of TrueBlue in a research note on Friday, October 13th. ValuEngine raised shares of TrueBlue from a hold rating to a buy rating in a research note on Friday, October 6th. Zacks Investment Research raised shares of TrueBlue from a sell rating to a hold rating in a research note on Wednesday, October 4th. TheStreet lowered shares of TrueBlue from a b- rating to a c+ rating in a research note on Friday, August 18th. Finally, BidaskClub lowered shares of TrueBlue from a hold rating to a sell rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. TrueBlue presently has an average rating of Hold and a consensus target price of $23.33.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $660.78 million during the quarter, compared to analyst estimates of $651.91 million. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. TrueBlue’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 earnings per share.

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TrueBlue announced that its board has authorized a stock repurchase program on Monday, October 30th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

In other 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 transaction of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 52,061 shares in the company, valued at $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.

Several large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in shares of TrueBlue by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the business services provider’s stock worth $458,000 after purchasing an additional 100 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of TrueBlue by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 43,510 shares of the business services provider’s stock worth $1,153,000 after purchasing an additional 165 shares during the last quarter. Jennison Associates LLC lifted its position in shares of TrueBlue by 0.5% during the second quarter. Jennison Associates LLC now owns 37,797 shares of the business services provider’s stock worth $1,002,000 after purchasing an additional 192 shares during the last quarter. Arizona State Retirement System lifted its position in shares of TrueBlue by 0.9% during the second quarter. Arizona State Retirement System now owns 22,228 shares of the business services provider’s stock worth $589,000 after purchasing an additional 200 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of TrueBlue by 0.3% in the first quarter. Legal & General Group Plc now owns 76,965 shares of the business services provider’s stock valued at $2,104,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

About TrueBlue

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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