TrueBlue, Inc. (TBI) Upgraded to B by TheStreet

TheStreet upgraded shares of TrueBlue, Inc. (NYSE:TBI) from a c+ rating to a b rating in a report published on Friday.

Several other analysts have also recently issued reports on TBI. BidaskClub cut shares of TrueBlue from a buy rating to a hold rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of TrueBlue from a hold rating to a sell rating in a research note on Thursday, August 3rd. BMO Capital Markets reiterated a hold rating and set a $23.00 target price (down previously from $26.00) on shares of TrueBlue in a research note on Friday, August 11th. ValuEngine lowered shares of TrueBlue from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Robert W. Baird reiterated a hold rating and set a $25.00 target price on shares of TrueBlue in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $26.00.

Shares of TrueBlue (NYSE:TBI) opened at $28.75 on Friday. The stock has a market cap of $1,190.00, a price-to-earnings ratio of 15.87 and a beta of 2.37. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. TrueBlue has a twelve month low of $19.30 and a twelve month high of $28.85.

TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $660.78 million for the quarter, compared to analysts’ expectations of $651.91 million. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. equities analysts predict that TrueBlue will post 1.7 EPS for the current fiscal year.

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TrueBlue announced that its board has authorized a stock repurchase plan on Monday, October 30th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In other TrueBlue news, Director Joseph P. Sambataro, Jr. sold 16,985 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $27.28, for a total transaction of $463,350.80. Following the completion of the sale, the director now owns 56,596 shares in the company, valued at $1,543,938.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James E. Defebaugh sold 7,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.16, for a total transaction of $211,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,485 shares of company stock valued at $1,343,071. 2.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in shares of TrueBlue by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the business services provider’s stock worth $458,000 after acquiring an additional 100 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of TrueBlue by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 43,510 shares of the business services provider’s stock worth $1,153,000 after acquiring an additional 165 shares during the last quarter. Jennison Associates LLC grew its position in shares of TrueBlue by 0.5% during the second quarter. Jennison Associates LLC now owns 37,797 shares of the business services provider’s stock worth $1,002,000 after acquiring an additional 192 shares during the last quarter. Arizona State Retirement System grew its position in shares of TrueBlue by 0.9% during the second quarter. Arizona State Retirement System now owns 22,228 shares of the business services provider’s stock worth $589,000 after acquiring an additional 200 shares during the last quarter. Finally, NGAM Advisors L.P. grew its position in shares of TrueBlue by 1.8% during the second quarter. NGAM Advisors L.P. now owns 21,513 shares of the business services provider’s stock worth $570,000 after acquiring an additional 374 shares during the last quarter. Institutional investors and hedge funds own 91.49% of the company’s stock.

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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