TrueBlue (NYSE:TBI) Raised to “Hold” at Wall Street Zen

TrueBlue (NYSE:TBI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

TBI has been the subject of several other research reports. Weiss Ratings lowered shares of TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Zacks Research raised TrueBlue from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.75.

TrueBlue Stock Up 0.2%

Shares of NYSE TBI opened at $6.71 on Friday. The stock has a market cap of $204.11 million, a P/E ratio of -3.77 and a beta of 1.64. The firm has a 50 day moving average price of $5.58 and a 200 day moving average price of $4.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.09. TrueBlue has a 52-week low of $3.18 and a 52-week high of $7.78.

TrueBlue (NYSE:TBI) last issued its earnings results on Tuesday, May 5th. The business services provider reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.04. The firm had revenue of $398.57 million during the quarter, compared to the consensus estimate of $390.51 million. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%. Analysts expect that TrueBlue will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in TrueBlue in the first quarter valued at approximately $41,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of TrueBlue during the fourth quarter worth $48,000. Simplex Trading LLC raised its holdings in shares of TrueBlue by 56.9% during the fourth quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock worth $50,000 after acquiring an additional 3,995 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of TrueBlue during the first quarter worth $53,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of TrueBlue during the fourth quarter worth $53,000. Institutional investors own 97.15% of the company’s stock.

TrueBlue Company Profile

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.