TrueBlue Inc. (NYSE:TBI)’s share price dropped 2.8% on Thursday . The company traded as low as $22.21 and last traded at $22.31, with a volume of 196,329 shares. The stock had previously closed at $22.95.

TBI has been the topic of several recent research reports. Zacks Investment Research upgraded TrueBlue from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Saturday, July 23rd. Avondale Partners reduced their price objective on TrueBlue from $31.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 21st. Robert W. Baird lowered TrueBlue from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $23.00 in a research report on Thursday, April 21st. Deutsche Bank AG initiated coverage on TrueBlue in a research report on Wednesday. They set a “sell” rating and a $20.00 price objective on the stock. Finally, BMO Capital Markets lowered TrueBlue from a “market perform” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. TrueBlue presently has a consensus rating of “Hold” and a consensus target price of $23.43.

The company’s market cap is $909.75 million. The stock has a 50-day moving average of $21.37 and a 200-day moving average of $21.75.

TrueBlue (NYSE:TBI) last released its earnings results on Wednesday, July 20th. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.08. The company had revenue of $673 million for the quarter, compared to analysts’ expectations of $675.33 million. During the same quarter last year, the firm posted $0.45 earnings per share. TrueBlue’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts predict that TrueBlue Inc. will post $2.19 earnings per share for the current year.

In related news, EVP James E. Defebaugh sold 5,000 shares of TrueBlue stock in a transaction on Monday, July 25th. The stock was sold at an average price of $23.07, for a total transaction of $115,350.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Several institutional investors have made changes to their positions in TBI. Matarin Capital Management LLC acquired a new position in shares of TrueBlue during the fourth quarter valued at approximately $2,964,000. Jennison Associates LLC increased its position in shares of TrueBlue by 7.6% in the fourth quarter. Jennison Associates LLC now owns 1,103,614 shares of the company’s stock valued at $28,429,000 after buying an additional 78,092 shares during the last quarter. US Bancorp DE increased its position in shares of TrueBlue by 5.3% in the fourth quarter. US Bancorp DE now owns 51,287 shares of the company’s stock valued at $1,320,000 after buying an additional 2,593 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of TrueBlue by 24.0% in the fourth quarter. Wells Fargo & Company MN now owns 891,320 shares of the company’s stock valued at $22,961,000 after buying an additional 172,553 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of TrueBlue by 6.9% in the fourth quarter. Rhumbline Advisers now owns 55,736 shares of the company’s stock valued at $1,436,000 after buying an additional 3,575 shares during the last quarter.

TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.

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