TrueBlue Inc. (NYSE:TBI) has been given a $18.00 price target by analysts at Deutsche Bank AG in a report released on Tuesday. The firm currently has a a “sell” rating on the stock. Deutsche Bank AG’s price target would indicate a potential downside of 10.00% from the stock’s previous close.
Separately, Zacks Investment Research upgraded shares of TrueBlue from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Saturday, August 6th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $23.43.
TrueBlue (NYSE:TBI) traded down 7.25% during mid-day trading on Tuesday, reaching $18.55. 1,341,206 shares of the company’s stock traded hands. The company has a 50-day moving average of $22.10 and a 200-day moving average of $21.38. The company’s market capitalization is $763.61 million. TrueBlue has a 52-week low of $17.35 and a 52-week high of $30.25.
TrueBlue (NYSE:TBI) last released its earnings results on Wednesday, October 19th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. TrueBlue had a positive return on equity of 15.08% and a negative net margin of 0.30%. The company earned $697.10 million during the quarter, compared to analysts’ expectations of $715.69 million. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that TrueBlue will post $2.18 EPS for the current year.
In related news, EVP James E. Defebaugh sold 5,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $23.07, for a total value of $115,350.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in TrueBlue by 29.3% in the second quarter. Bank of New York Mellon Corp now owns 4,308,967 shares of the company’s stock worth $81,526,000 after buying an additional 975,836 shares during the last quarter. Vanguard Group Inc. raised its position in TrueBlue by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,296,381 shares of the company’s stock worth $62,368,000 after buying an additional 98,585 shares during the last quarter. BlackRock Fund Advisors raised its position in TrueBlue by 3.0% in the second quarter. BlackRock Fund Advisors now owns 2,659,280 shares of the company’s stock worth $50,314,000 after buying an additional 77,741 shares during the last quarter. Royce & Associates LP raised its position in TrueBlue by 12.0% in the second quarter. Royce & Associates LP now owns 2,195,486 shares of the company’s stock worth $41,539,000 after buying an additional 234,449 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in TrueBlue by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,953,244 shares of the company’s stock worth $36,955,000 after buying an additional 8,473 shares during the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.
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