TrueBlue, Inc. (NYSE:TBI) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued on Friday.

A number of other research firms have also issued reports on TBI. BidaskClub lowered TrueBlue from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 price target (down previously from $26.00) on shares of TrueBlue in a research report on Friday, August 11th. ValuEngine lowered TrueBlue from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price target on shares of TrueBlue in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $26.00.

Shares of TrueBlue (NYSE:TBI) traded up $0.35 during trading on Friday, reaching $28.75. The company had a trading volume of 197,000 shares, compared to its average volume of 294,294. TrueBlue has a 12 month low of $19.30 and a 12 month high of $28.85. The stock has a market cap of $1,190.00, a PE ratio of 15.87 and a beta of 2.37. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.20.

TrueBlue (NYSE:TBI) last announced its earnings results on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. TrueBlue had a return on equity of 14.05% and a net margin of 2.22%. The company had revenue of $660.78 million during the quarter, compared to analysts’ expectations of $651.91 million. During the same period last year, the business posted $0.70 EPS. TrueBlue’s revenue for the quarter was down 5.2% on a year-over-year basis. equities research analysts anticipate that TrueBlue will post 1.7 EPS for the current year.

TrueBlue announced that its board has initiated a share repurchase plan on Monday, October 30th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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In other news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $20.38, for a total transaction of $203,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James E. Defebaugh sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.16, for a total value of $211,200.00. The disclosure for this sale can be found here. Insiders sold a total of 53,485 shares of company stock worth $1,343,071 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TBI. Wellington Management Group LLP acquired a new stake in shares of TrueBlue during the 1st quarter worth about $715,000. Teachers Advisors LLC raised its position in shares of TrueBlue by 4.5% during the 1st quarter. Teachers Advisors LLC now owns 87,659 shares of the business services provider’s stock worth $2,397,000 after acquiring an additional 3,810 shares in the last quarter. Vanguard Group Inc. raised its position in shares of TrueBlue by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 3,892,823 shares of the business services provider’s stock worth $106,469,000 after acquiring an additional 305,994 shares in the last quarter. Geode Capital Management LLC raised its position in shares of TrueBlue by 9.0% during the 1st quarter. Geode Capital Management LLC now owns 376,678 shares of the business services provider’s stock worth $10,302,000 after acquiring an additional 31,258 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of TrueBlue by 50,858.0% during the 1st quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock worth $141,280,000 after acquiring an additional 5,155,477 shares in the last quarter. 91.49% of the stock is currently owned by institutional investors and hedge funds.

About TrueBlue

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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