ValuEngine upgraded shares of Trueblue (NYSE:TBI) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Several other equities research analysts also recently issued reports on the company. Robert W. Baird reaffirmed a hold rating and issued a $28.00 price target on shares of Trueblue in a research report on Tuesday, July 31st. TheStreet raised Trueblue from a c rating to a b- rating in a research report on Wednesday, August 1st. Zacks Investment Research raised Trueblue from a hold rating to a buy rating and set a $27.00 price target on the stock in a research report on Thursday, November 8th. Finally, Credit Suisse Group started coverage on Trueblue in a research report on Friday, August 10th. They issued a neutral rating and a $31.00 price target on the stock. Five analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and a consensus target price of $27.25.

Trueblue stock opened at $24.16 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market cap of $995.13 million, a price-to-earnings ratio of 13.89 and a beta of 1.88. Trueblue has a one year low of $22.34 and a one year high of $29.85.

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

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Trueblue by 5.7% in the third quarter. BlackRock Inc. now owns 5,760,079 shares of the business services provider’s stock valued at $150,049,000 after purchasing an additional 309,494 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Trueblue by 8.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,767,807 shares of the business services provider’s stock valued at $72,100,000 after purchasing an additional 220,911 shares during the last quarter. FMR LLC grew its position in shares of Trueblue by 6.7% in the second quarter. FMR LLC now owns 1,249,211 shares of the business services provider’s stock valued at $33,666,000 after purchasing an additional 78,126 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of Trueblue by 28.1% in the second quarter. Hood River Capital Management LLC now owns 798,449 shares of the business services provider’s stock valued at $21,518,000 after purchasing an additional 175,325 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Trueblue in the third quarter valued at about $19,464,000. 92.95% of the stock is currently owned by institutional investors.

About Trueblue

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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