Trueblue Inc (TBI) Receives Average Rating of “Hold” from Analysts

Shares of Trueblue Inc (NYSE:TBI) have earned an average rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $27.50.

Several research firms recently weighed in on TBI. BMO Capital Markets restated a “hold” rating and set a $23.00 price target on shares of Trueblue in a report on Friday, October 13th. Robert W. Baird increased their price target on Trueblue from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Zacks Investment Research lowered Trueblue from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, TheStreet raised Trueblue from a “c+” rating to a “b” rating in a research report on Friday, November 17th.

In other news, CEO Steven C. Cooper sold 23,900 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $28.06, for a total transaction of $670,634.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James E. Defebaugh sold 7,500 shares of the stock in a transaction on 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 44,000 shares of company stock worth $1,241,438 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in Trueblue by 192.7% during the third quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock worth $106,000 after buying an additional 3,098 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Trueblue in the third quarter valued at $117,000. Schroder Investment Management Group acquired a new stake in shares of Trueblue in the fourth quarter valued at $149,000. Jane Street Group LLC acquired a new stake in shares of Trueblue in the third quarter valued at $203,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Trueblue in the third quarter valued at $209,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Trueblue (NYSE TBI) traded down $0.30 during midday trading on Friday, reaching $26.85. The company had a trading volume of 587,684 shares, compared to its average volume of 224,779. The company has a current ratio of 2.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21. Trueblue has a one year low of $19.30 and a one year high of $29.50. The stock has a market cap of $1,122.96, a PE ratio of 20.19 and a beta of 2.28.

Trueblue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, February 7th. The business services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. The company had revenue of $669.63 million for the quarter, compared to analysts’ expectations of $667.66 million. During the same period in the previous year, the firm earned $0.58 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. sell-side analysts predict that Trueblue will post 1.86 earnings per share for the current fiscal year.

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

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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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