Trueblue Inc (NYSE:TBI) was upgraded by research analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a research report issued on Friday, The Fly reports.

TBI has been the topic of several other research reports. TheStreet downgraded Trueblue from a “b-” rating to a “c” rating in a report on Thursday, February 9th. Zacks Investment Research downgraded Trueblue from a “hold” rating to a “sell” rating in a report on Saturday, February 11th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $21.75.

Shares of Trueblue (NYSE:TBI) opened at 26.60 on Friday. The stock’s market capitalization is $1.11 billion. Trueblue has a one year low of $16.50 and a one year high of $28.70. The stock’s 50 day moving average is $26.59 and its 200-day moving average is $24.83.

Trueblue (NYSE:TBI) last posted its quarterly earnings data on Monday, May 1st. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.09. The firm had revenue of $568.24 million for the quarter, compared to the consensus estimate of $569.85 million. Trueblue had a positive return on equity of 16.55% and a negative net margin of 0.55%. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS. On average, equities research analysts expect that Trueblue will post $1.76 EPS for the current year.

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In related news, EVP James E. Defebaugh sold 5,000 shares of Trueblue stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $27.00, for a total value of $135,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Steven C. Cooper sold 40,000 shares of Trueblue stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $27.03, for a total value of $1,081,200.00. Following the completion of the sale, the chief executive officer now directly owns 218,171 shares in the company, valued at approximately $5,897,162.13. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Systematic Financial Management LP raised its stake in shares of Trueblue by 7.1% in the fourth quarter. Systematic Financial Management LP now owns 4,835 shares of the business services provider’s stock worth $119,000 after buying an additional 320 shares in the last quarter. FMR LLC raised its stake in shares of Trueblue by 9.5% in the fourth quarter. FMR LLC now owns 786,093 shares of the business services provider’s stock worth $19,377,000 after buying an additional 68,258 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of Trueblue by 11.1% in the fourth quarter. Martingale Asset Management L P now owns 69,453 shares of the business services provider’s stock worth $1,713,000 after buying an additional 6,935 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Trueblue by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,088,053 shares of the business services provider’s stock worth $51,471,000 after buying an additional 135,335 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Trueblue by 5.7% in the fourth quarter. Comerica Bank now owns 45,246 shares of the business services provider’s stock worth $1,093,000 after buying an additional 2,442 shares in the last quarter. 88.46% of the stock is currently owned by institutional investors and hedge funds.

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.

12 Month Chart for NYSE:TBI

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