Trueblue (NYSE:TBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $27.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.14% from the company’s current price.

According to Zacks, “TrueBlue, Inc. is a leading provider of specialized workforce solutions, helping clients improve growth and performance by providing staffing, workforce management, and recruitment process outsourcing solutions. The company’s specialized workforce solutions meet clients’ needs for a reliable, efficient workforce in a wide variety of industries. “

Several other research analysts have also issued reports on TBI. Robert W. Baird reissued a “hold” rating and set a $28.00 target price on shares of Trueblue in a research note on Tuesday, July 31st. ValuEngine lowered shares of Trueblue from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet raised shares of Trueblue from a “c” rating to a “b-” rating in a research note on Wednesday, August 1st. Finally, Credit Suisse Group assumed coverage on shares of Trueblue in a research note on Friday, August 10th. They set a “neutral” rating and a $31.00 target price on the stock. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $27.25.

NYSE:TBI opened at $24.74 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.98 and a current ratio of 2.03. Trueblue has a 52 week low of $22.34 and a 52 week high of $29.85. The firm has a market capitalization of $965.98 million, a PE ratio of 14.22 and a beta of 1.88.

Trueblue (NYSE:TBI) last issued its earnings results on Monday, November 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $680.40 million for the quarter, compared to analyst estimates of $672.74 million. Trueblue had a net margin of 2.67% and a return on equity of 15.62%. Trueblue’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities research analysts forecast that Trueblue will post 2.26 earnings per share for the current year.

In related news, EVP Sean A. Ebner sold 1,211 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $28.50, for a total transaction of $34,513.50. Following the transaction, the executive vice president now directly owns 13,989 shares of the company’s stock, valued at $398,686.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BBT Capital Management LLC acquired a new position in Trueblue during the third quarter worth $967,000. BlackRock Inc. raised its holdings in Trueblue by 5.7% during the third quarter. BlackRock Inc. now owns 5,760,079 shares of the business services provider’s stock worth $150,049,000 after buying an additional 309,494 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Trueblue by 7.5% during the third quarter. Bank of New York Mellon Corp now owns 508,432 shares of the business services provider’s stock worth $13,245,000 after buying an additional 35,619 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Trueblue during the third quarter worth $19,464,000. Finally, AXA raised its holdings in Trueblue by 23.3% during the third quarter. AXA now owns 50,300 shares of the business services provider’s stock worth $1,310,000 after buying an additional 9,500 shares during the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.

Trueblue Company Profile

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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