Robert W. Baird reiterated their hold rating on shares of TrueBlue, Inc. (NYSE:TBI) in a research note released on Friday, October 6th. Robert W. Baird currently has a $25.00 price objective on the business services provider’s stock.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised TrueBlue from a sell rating to a hold rating in a research report on Wednesday, October 4th. ValuEngine cut TrueBlue from a buy rating to a hold rating in a research note on Friday, September 1st. TheStreet lowered TrueBlue from a b- rating to a c+ rating in a research report on Friday, August 18th. 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 report on Friday, August 11th. Finally, BidaskClub lowered TrueBlue from a hold rating to a sell rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average target price of $20.25.
TrueBlue (NYSE:TBI) opened at 23.45 on Friday. TrueBlue has a 52 week low of $16.50 and a 52 week high of $28.70. The company has a market capitalization of $975.00 million, a P/E ratio of 16.56 and a beta of 2.40. The company has a 50 day moving average price of $22.00 and a 200-day moving average price of $24.53.
TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The firm had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. During the same period last year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities 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 firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $20.38, for a total value of $203,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew its holdings in shares of TrueBlue by 15.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 43,345 shares of the business services provider’s stock worth $1,185,000 after purchasing an additional 5,815 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of TrueBlue during the 1st quarter worth approximately $369,000. Comerica Bank grew its holdings in shares of TrueBlue by 3.1% during the 1st quarter. Comerica Bank now owns 46,633 shares of the business services provider’s stock worth $1,296,000 after purchasing an additional 1,387 shares in the last quarter. Swiss National Bank grew its holdings in shares of TrueBlue by 2.2% during the 1st quarter. Swiss National Bank now owns 70,000 shares of the business services provider’s stock worth $1,915,000 after purchasing an additional 1,500 shares in the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of TrueBlue during the 1st quarter worth approximately $578,000. 89.82% of the stock is currently owned by institutional investors.
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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