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.
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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