TrueBlue, Inc. (TBI) Rating Reiterated by Robert W. Baird
TrueBlue, Inc. (NYSE:TBI)‘s stock had its “hold” rating reissued by research analysts at Robert W. Baird in a report released on Friday. They currently have a $25.00 price objective on the business services provider’s stock. Robert W. Baird’s price objective points to a potential upside of 8.70% from the stock’s current price.
Several other equities analysts have also weighed in on TBI. Zacks Investment Research lowered shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub lowered shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. TheStreet upgraded shares of TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. BMO Capital Markets reiterated a “hold” rating and issued a $23.00 target price (down from $26.00) on shares of TrueBlue in a report on Friday, August 11th. Finally, ValuEngine lowered shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.25.
TrueBlue (TBI) opened at 23.00 on Friday. TrueBlue has a 52-week low of $16.50 and a 52-week high of $28.70. The firm has a 50-day moving average of $21.16 and a 200 day moving average of $24.75. The firm has a market cap of $956.29 million, a price-to-earnings ratio of 16.24 and a beta of 2.40.
TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The business had revenue of $610.10 million for the quarter, compared to analyst estimates of $610.04 million. During the same period in the prior year, the business posted $0.54 earnings per share. TrueBlue’s revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts forecast that TrueBlue will post $1.69 earnings per share for the current year.
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In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $23.00, for a total value of $230,000.00. Following 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 document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB acquired a new stake in TrueBlue in the first quarter worth $170,000. State of Alaska Department of Revenue raised its holdings in TrueBlue by 79.6% in the second 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 during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in TrueBlue in the second quarter worth $236,000. Schroder Investment Management Group acquired a new stake in TrueBlue in the first quarter worth $251,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in TrueBlue in the second quarter worth $244,000. Institutional investors own 89.82% 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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