TrueBlue, Inc. (TBI) Upgraded by ValuEngine to Buy
ValuEngine upgraded shares of TrueBlue, Inc. (NYSE:TBI) from a hold rating to a buy rating in a report released on Friday.
TBI has been the topic of several other reports. Zacks Investment Research raised shares of TrueBlue from a sell rating to a hold rating in a research note on Wednesday. BidaskClub lowered shares of TrueBlue from a buy rating to a hold rating in a research note on Tuesday, July 25th. TheStreet raised shares of TrueBlue from a c rating to a b rating in a research note on Monday, July 31st. BMO Capital Markets reissued a hold rating and set a $23.00 target price (down from $26.00) on shares of TrueBlue in a research note on Friday, August 11th. Finally, Robert W. Baird reissued a hold rating and set a $25.00 target price on shares of TrueBlue in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. TrueBlue has an average rating of Hold and a consensus target price of $20.25.
Shares of TrueBlue (NYSE:TBI) traded down 0.86% during midday trading on Friday, hitting $23.00. 256,247 shares of the company were exchanged. The firm has a market capitalization of $956.29 million, a price-to-earnings ratio of 16.24 and a beta of 2.40. TrueBlue has a one year low of $16.50 and a one year high of $28.70. The firm’s 50 day moving average price is $21.16 and its 200 day moving average price is $24.75.
TrueBlue (NYSE:TBI) last issued its earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $610.10 million for the quarter, compared to analyst estimates of $610.04 million. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. TrueBlue’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. Analysts forecast that TrueBlue will post $1.69 EPS for the current fiscal year.
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In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 52,061 shares of the company’s stock, valued at $1,197,403. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its stake in shares of TrueBlue by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 35,447 shares of the business services provider’s stock valued at $939,000 after buying an additional 1,788 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of TrueBlue in the second quarter valued at $244,000. Sterling Capital Management LLC lifted its stake in shares of TrueBlue by 8.3% in the second quarter. Sterling Capital Management LLC now owns 39,795 shares of the business services provider’s stock valued at $1,055,000 after buying an additional 3,051 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of TrueBlue by 169.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 206,594 shares of the business services provider’s stock valued at $5,475,000 after buying an additional 129,794 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of TrueBlue by 41.9% in the second quarter. Cubist Systematic Strategies LLC now owns 13,379 shares of the business services provider’s stock valued at $355,000 after buying an additional 3,952 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.
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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