TrueBlue, Inc. (NYSE:TBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “TRUEBLUE INC., headquartered in Tacoma, Wash., is the parent company of Labor Ready, Spartan Staffing, CLP Resources, and PlaneTechs. TrueBlue’s brands provide general labor, light industrial and skilled trades services to small to mid-sized businesses in the construction, warehousing, hospitality, landscaping, transportation, light manufacturing, retail, wholesale, facilities, sanitation, and aviation industries. “

Separately, BMO Capital Markets reiterated a “sell” rating and issued a $20.00 price target on shares of TrueBlue in a report on Wednesday, April 5th. Four research analysts have rated the stock with a hold rating, TrueBlue currently has a consensus rating of “Hold” and a consensus price target of $22.50.

TrueBlue (TBI) opened at 26.60 on Thursday. The stock’s market cap is $1.11 billion. The company’s 50-day moving average price is $26.71 and its 200-day moving average price is $25.91. TrueBlue has a 12 month low of $16.50 and a 12 month high of $28.70.

TrueBlue (NYSE:TBI) last issued its earnings results on Monday, May 1st. The business services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.09. The business had revenue of $568.24 million for the quarter, compared to analyst estimates of $569.85 million. TrueBlue had a positive return on equity of 16.30% and a negative net margin of 0.66%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. Equities analysts forecast that TrueBlue will post $1.76 earnings per share for the current year.

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In other TrueBlue news, CEO Steven C. Cooper sold 40,000 shares of TrueBlue stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $27.03, for a total value of $1,081,200.00. Following the transaction, the chief executive officer now owns 218,171 shares in the company, valued at $5,897,162.13. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph P. Sambataro, Jr. sold 25,000 shares of TrueBlue stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $28.32, for a total transaction of $708,000.00. Following the completion of the transaction, the director now owns 73,581 shares in the company, valued at approximately $2,083,813.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,000 shares of company stock worth $2,479,200. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in TrueBlue by 50,858.0% in the first quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock valued at $141,280,000 after buying an additional 5,155,477 shares during the last quarter. JPMorgan Chase & Co. boosted its position in TrueBlue by 114.6% in the first quarter. JPMorgan Chase & Co. now owns 1,085,196 shares of the business services provider’s stock valued at $29,681,000 after buying an additional 579,545 shares during the last quarter. Norges Bank purchased a new position in TrueBlue during the fourth quarter valued at $12,894,000. Alliancebernstein L.P. boosted its position in TrueBlue by 41.1% in the first quarter. Alliancebernstein L.P. now owns 1,345,671 shares of the business services provider’s stock valued at $36,804,000 after buying an additional 391,674 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in TrueBlue by 8.5% in the first quarter. Vanguard Group Inc. now owns 3,892,823 shares of the business services provider’s stock valued at $106,469,000 after buying an additional 305,994 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

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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