TrueBlue, Inc. (TBI) Given Consensus Rating of “Hold” by Analysts
Shares of TrueBlue, Inc. (NYSE:TBI) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.50.
Several research firms recently commented on TBI. TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a research note on Monday, July 31st. ValuEngine cut TrueBlue from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BMO Capital Markets reiterated a “hold” rating and issued a $23.00 price target (down previously from $26.00) on shares of TrueBlue in a research note on Friday, August 11th. BidaskClub cut TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut TrueBlue from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th.
TrueBlue (NYSE:TBI) traded up 0.23% during midday trading on Wednesday, reaching $21.60. The company’s stock had a trading volume of 272,582 shares. The company has a market capitalization of $898.08 million, a P/E ratio of 15.25 and a beta of 2.38. TrueBlue has a 1-year low of $16.50 and a 1-year high of $28.70. The company has a 50 day moving average of $21.26 and a 200-day moving average of $25.31.
TrueBlue (NYSE:TBI) last issued its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. The company had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Equities research analysts anticipate that TrueBlue will post $1.69 earnings per share for the current fiscal year.
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In related news, EVP Wayne W. Larkin sold 10,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $20.38, for a total value of $203,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. 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 worth $939,000 after acquiring an additional 1,788 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in TrueBlue during the second quarter valued at approximately $244,000. Sterling Capital Management LLC raised its stake in TrueBlue by 8.3% during 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 raised its stake in TrueBlue by 169.0% during 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 raised its stake in TrueBlue by 41.9% during 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. Institutional investors and hedge funds own 90.05% 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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