TrueBlue (NYSE:TBI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TrueBlue (NYSE:TBI) to a hold rating in a report issued on Saturday.

TBI has been the topic of several other reports. BMO Capital Markets decreased their price target on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

TrueBlue Stock Up 4.7%

Shares of TBI opened at $5.26 on Friday. TrueBlue has a one year low of $3.45 and a one year high of $8.55. The company has a market cap of $157.33 million, a P/E ratio of -5.53, a P/E/G ratio of 0.77 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a 50 day simple moving average of $4.84 and a two-hundred day simple moving average of $5.63.

TrueBlue (NYSE:TBI) last issued its earnings results on Monday, November 3rd. The business services provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. TrueBlue had a negative return on equity of 4.42% and a negative net margin of 1.78%.The firm had revenue of $431.27 million for the quarter, compared to the consensus estimate of $409.01 million. Research analysts forecast that TrueBlue will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On TrueBlue

Several large investors have recently modified their holdings of TBI. Dynamic Technology Lab Private Ltd acquired a new position in shares of TrueBlue during the first quarter worth $156,000. Strs Ohio bought a new position in TrueBlue during the 1st quarter worth $264,000. Kapitalo Investimentos Ltda acquired a new position in TrueBlue during the 2nd quarter worth about $88,000. Pzena Investment Management LLC grew its position in shares of TrueBlue by 3.0% in the 2nd quarter. Pzena Investment Management LLC now owns 2,919,252 shares of the business services provider’s stock valued at $18,917,000 after buying an additional 84,085 shares during the last quarter. Finally, Peapod Lane Capital LLC increased its stake in shares of TrueBlue by 37.5% in the second quarter. Peapod Lane Capital LLC now owns 358,454 shares of the business services provider’s stock valued at $2,323,000 after buying an additional 97,698 shares during the period. Institutional investors own 97.15% of the company’s stock.

TrueBlue Company Profile

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.