TrueBlue, Inc. (NYSE:TBI)‘s stock had its “hold” rating restated by analysts at BMO Capital Markets in a note issued to investors on Friday. They presently have a $23.00 price objective on the business services provider’s stock. BMO Capital Markets’ target price points to a potential upside of 14.71% from the stock’s current price.
TBI has been the topic of a number of other research reports. BidaskClub downgraded TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.25.
TrueBlue (NYSE:TBI) opened at 20.05 on Friday. The stock has a 50 day moving average price of $25.28 and a 200 day moving average price of $26.06. TrueBlue has a 1-year low of $16.50 and a 1-year high of $28.70. The company has a market cap of $833.64 million, a P/E ratio of 14.16 and a beta of 2.34.
TrueBlue (NYSE:TBI) last issued its earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The firm had revenue of $610.10 million for the quarter, compared to the consensus estimate of $610.04 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that TrueBlue will post $1.69 EPS for the current fiscal year.
In other TrueBlue news, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $28.32, for a total transaction of $708,000.00. Following the transaction, the director now owns 73,581 shares in the company, valued at $2,083,813.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Derrek Lane Gafford sold 20,000 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $27.75, for a total value of $555,000.00. Following the transaction, the chief financial officer now owns 91,859 shares in the company, valued at approximately $2,549,087.25. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of TBI. State of Alaska Department of Revenue increased its position in shares of TrueBlue by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the business services provider’s stock worth $127,000 after buying an additional 60 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of TrueBlue during the first quarter worth about $170,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of TrueBlue during the second quarter worth about $236,000. 1st Global Advisors Inc. increased its position in shares of TrueBlue by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 8,754 shares of the business services provider’s stock worth $239,000 after buying an additional 120 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new position in shares of TrueBlue during the first quarter worth about $251,000. Institutional investors own 92.66% of the company’s stock.
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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