TrueBlue Rating Reiterated by Deutsche Bank (TBI)
TrueBlue (NYSE:TBI)‘s stock had its “buy” rating restated by investment analysts at Deutsche Bank in a note issued to investors on Friday, Analyst Ratings Net reports. They currently have a $29.00 target price on the stock, up from their previous target price of $28.00. Deutsche Bank’s target price points to a potential upside of 18.51% from the stock’s previous close.
The analysts wrote, “While we assume that Buy-side expectations are ahead of the Sell-side, we think the significant rise to consensus EPS over the coming six months will be positive for the share prices of both MAN and TBI. We believe both stocks can hold their mid-cycle multiples for at least another year. We primarily use midcycle multiples and ’14E EPS (ex amort) to arrive at our updated target prices. See pages 35 to 39 for our complete valuation and risk. Key risks for the staffing stocks include a US Gov’t shutdown or debt ceiling issue which causes real harm to the US economy, global macro data that weakens instead of improves, no expansion in gross margins as expected, and higher cost growth than expected.”
TBI has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of TrueBlue from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $30.20 price target on the stock. Analysts at BMO Capital Markets upgraded shares of TrueBlue from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, July 25th. They now have a $30.00 price target on the stock, up previously from $23.00. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. TrueBlue has a consensus rating of “Buy” and an average target price of $26.30.
TrueBlue (NYSE:TBI) traded up 4.99% on Friday, hitting $25.69. 68,625 shares of the company’s stock traded hands. TrueBlue has a 52-week low of $11.84 and a 52-week high of $27.76. The stock has a 50-day moving average of $24.74 and a 200-day moving average of $23.27. The company has a market cap of $1.011 billion and a price-to-earnings ratio of 29.88.
TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $422.31 million for the quarter, compared to the consensus estimate of $420.34 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts predict that TrueBlue will post $1.09 earnings per share for the current fiscal year.
TrueBlue, Inc (NYSE:TBI) is a provider of temporary blue-collar staffing services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.