ValuEngine downgraded shares of Trueblue (NYSE:TBI) from a buy rating to a hold rating in a report published on Wednesday.
Several other research firms also recently issued reports on TBI. Credit Suisse Group assumed coverage on Trueblue in a research note on Friday, August 10th. They set a neutral rating and a $31.00 price target for the company. Zacks Investment Research cut Trueblue from a buy rating to a hold rating in a research report on Saturday, August 4th. Robert W. Baird reissued a hold rating and set a $28.00 price objective on shares of Trueblue in a research report on Tuesday, July 31st. Finally, TheStreet raised Trueblue from a c rating to a b- rating in a research report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating, The company has an average rating of Hold and an average price target of $29.75.
TBI opened at $27.20 on Wednesday. The stock has a market cap of $1.11 billion, a PE ratio of 13.72 and a beta of 1.88. Trueblue has a 52-week low of $20.41 and a 52-week high of $29.85. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.21.
Trueblue (NYSE:TBI) last released its quarterly earnings results on Monday, July 30th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $614.30 million during the quarter, compared to the consensus estimate of $601.43 million. Trueblue had a return on equity of 14.66% and a net margin of 2.57%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. equities research analysts forecast that Trueblue will post 2.23 earnings per share for the current year.
In related news, EVP James E. Defebaugh sold 10,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $27.08, for a total transaction of $270,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean A. Ebner sold 1,211 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $28.50, for a total value of $34,513.50. Following the transaction, the executive vice president now directly owns 13,989 shares of the company’s stock, valued at approximately $398,686.50. The disclosure for this sale can be found here. Insiders have sold a total of 66,211 shares of company stock valued at $1,864,564 in the last three months. 2.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TBI. Itau Unibanco Holding S.A. acquired a new position in Trueblue in the 2nd quarter valued at approximately $129,000. Tower Research Capital LLC TRC acquired a new position in Trueblue in the 2nd quarter valued at approximately $134,000. Signaturefd LLC acquired a new position in Trueblue in the 1st quarter valued at approximately $190,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Trueblue in the 2nd quarter valued at approximately $215,000. Finally, Quantbot Technologies LP acquired a new position in Trueblue in the 1st quarter valued at approximately $241,000. 91.99% of the stock is owned by institutional investors and hedge funds.
Trueblue Company Profile
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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