TrueBlue, Inc. (NYSE:TBI) has received an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $23.33.

TBI has been the topic of several research reports. TheStreet downgraded shares of TrueBlue from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Robert W. Baird reissued a “hold” rating and set a $25.00 price target on shares of TrueBlue in a research note on Friday, October 6th. ValuEngine upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Zacks Investment Research cut shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, BMO Capital Markets restated a “hold” rating and issued a $23.00 target price on shares of TrueBlue in a report on Friday, October 13th.

In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $23.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 52,061 shares of the company’s stock, valued at $1,197,403. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its position in TrueBlue by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the business services provider’s stock valued at $458,000 after buying an additional 100 shares during the period. State Board of Administration of Florida Retirement System lifted its position in TrueBlue by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 43,510 shares of the business services provider’s stock valued at $1,153,000 after buying an additional 165 shares during the period. Jennison Associates LLC lifted its position in TrueBlue by 0.5% during the second quarter. Jennison Associates LLC now owns 37,797 shares of the business services provider’s stock valued at $1,002,000 after buying an additional 192 shares during the period. Arizona State Retirement System lifted its position in TrueBlue by 0.9% during the second quarter. Arizona State Retirement System now owns 22,228 shares of the business services provider’s stock valued at $589,000 after buying an additional 200 shares during the period. Finally, Legal & General Group Plc lifted its position in TrueBlue by 0.3% during the first quarter. Legal & General Group Plc now owns 76,965 shares of the business services provider’s stock valued at $2,104,000 after buying an additional 264 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

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TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $660.78 million for the quarter, compared to the consensus estimate of $651.91 million. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share.

TrueBlue declared that its Board of Directors has approved a stock repurchase plan on Monday, October 30th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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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