TrueBlue Inc. (NYSE:TBI) received a $20.00 price objective from equities researchers at Deutsche Bank AG in a note issued to investors on Tuesday. The brokerage currently has a a “sell” rating on the stock. Deutsche Bank AG’s price objective would indicate a potential downside of 5.44% from the stock’s previous close.
Separately, Zacks Investment Research raised shares of TrueBlue from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Saturday, July 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. TrueBlue currently has an average rating of “Hold” and an average price target of $23.43.
TrueBlue (NYSE:TBI) traded down 0.95% during midday trading on Tuesday, reaching $20.95. 130,110 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $22.16 and its 200 day moving average is $21.39. TrueBlue has a 1-year low of $17.35 and a 1-year high of $30.25. The stock’s market cap is $862.41 million.
In related news, EVP James E. Defebaugh sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $23.07, for a total transaction of $115,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted 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 valued at $81,526,000 after buying an additional 975,836 shares during the period. GMT Capital Corp bought a new position in TrueBlue during the second quarter valued at $10,815,000. FMR LLC boosted its position in TrueBlue by 957.2% in the second quarter. FMR LLC now owns 529,564 shares of the company’s stock valued at $10,019,000 after buying an additional 479,471 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its position in TrueBlue by 80.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,072,437 shares of the company’s stock valued at $20,291,000 after buying an additional 478,162 shares during the period. Finally, Hillcrest Asset Management LLC bought a new position in TrueBlue during the first quarter valued at $8,118,000. Institutional investors 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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