Trueblue (NYSE:TBI) had its target price trimmed by Credit Suisse Group from $31.00 to $25.00 in a research report sent to investors on Tuesday morning. The brokerage currently has a hold rating on the business services provider’s stock.
A number of other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Trueblue from a buy rating to a hold rating in a research report on Wednesday, September 12th. Zacks Investment Research downgraded shares of Trueblue from a buy rating to a hold rating in a research report on Saturday, August 4th. TheStreet raised shares of Trueblue from a c rating to a b- rating in a research report on Wednesday, August 1st. Finally, Robert W. Baird reaffirmed a hold rating and issued a $28.00 target price on shares of Trueblue in a research report on Tuesday, July 31st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Trueblue presently has a consensus rating of Hold and an average price target of $27.25.
NYSE:TBI opened at $24.95 on Tuesday. The stock has a market capitalization of $965.98 million, a PE ratio of 14.34 and a beta of 1.88. The company has a current ratio of 2.03, a quick ratio of 1.98 and a debt-to-equity ratio of 0.18. Trueblue has a 1-year low of $22.34 and a 1-year high of $29.85.
Trueblue (NYSE:TBI) last released its earnings results on Monday, November 5th. The business services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ 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 company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. On average, analysts forecast that Trueblue will post 2.26 EPS for the current fiscal year.
In related news, EVP Sean A. Ebner sold 1,211 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $28.50, for a total transaction of $34,513.50. Following the sale, the executive vice president now directly owns 13,989 shares of the company’s stock, valued at approximately $398,686.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TBI. Janus Henderson Group PLC purchased a new stake in Trueblue during the 3rd quarter valued at about $19,464,000. Dimensional Fund Advisors LP grew its position in Trueblue by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,546,896 shares of the business services provider’s stock valued at $68,639,000 after purchasing an additional 209,271 shares during the last quarter. Hood River Capital Management LLC grew its position in Trueblue by 28.1% during the 2nd 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. Acadian Asset Management LLC grew its position in Trueblue by 22.7% during the 3rd quarter. Acadian Asset Management LLC now owns 734,988 shares of the business services provider’s stock valued at $19,145,000 after purchasing an additional 136,172 shares during the last quarter. Finally, BlackRock Inc. grew its position in Trueblue by 2.4% during the 2nd quarter. BlackRock Inc. now owns 5,450,585 shares of the business services provider’s stock valued at $146,894,000 after purchasing an additional 127,868 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors.
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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