Several analysts have recently updated their ratings and price targets for Trueblue (NYSE: TBI):

  • 5/14/2019 – Trueblue was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 5/3/2019 – Trueblue was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 4/30/2019 – Trueblue had its price target lowered by analysts at Robert W. Baird from $27.00 to $26.00. They now have a “neutral” rating on the stock.
  • 4/29/2019 – Trueblue was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 4/16/2019 – Trueblue was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 4/11/2019 – Trueblue was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “

TBI traded up $0.17 during midday trading on Thursday, reaching $23.69. 1 shares of the company’s stock were exchanged, compared to its average volume of 198,899. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $937.16 million, a P/E ratio of 10.39 and a beta of 1.66. Trueblue Inc has a 1-year low of $20.56 and a 1-year high of $29.85.

Trueblue (NYSE:TBI) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Trueblue had a net margin of 2.61% and a return on equity of 15.35%. The business had revenue of $552.30 million during the quarter, compared to analyst estimates of $560.27 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, analysts forecast that Trueblue Inc will post 2.28 EPS for the current fiscal year.

In related news, CFO Derrek Lane Gafford sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $24.16, for a total value of $966,400.00. Following the completion of the sale, the chief financial officer now directly owns 108,758 shares in the company, valued at $2,627,593.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James E. Defebaugh sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $24.69, for a total transaction of $246,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,700 shares of company stock valued at $2,189,078. 2.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Trueblue by 42.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,738 shares of the business services provider’s stock worth $61,000 after buying an additional 822 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Trueblue in the fourth quarter valued at $71,000. Sterling Investment Advisors Ltd. boosted its stake in shares of Trueblue by 100.0% in the first quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 2,000 shares during the period. Bessemer Group Inc. purchased a new position in shares of Trueblue in the fourth quarter valued at $138,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Trueblue by 1,301.5% in the first quarter. Meeder Asset Management Inc. now owns 6,517 shares of the business services provider’s stock valued at $154,000 after purchasing an additional 6,052 shares during the period. Institutional investors own 96.23% of the company’s stock.

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, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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