Trueblue (NYSE:TBI) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Trueblue from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. BMO Capital Markets reduced their price target on Trueblue from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, February 11th. Finally, ValuEngine downgraded Trueblue from a “hold” rating to a “sell” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $26.00.
TBI opened at $24.57 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $992.31 million, a price-to-earnings ratio of 10.78 and a beta of 1.68. Trueblue has a 12-month low of $20.56 and a 12-month high of $29.85.
Trueblue (NYSE:TBI) last issued its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. Trueblue had a return on equity of 15.95% and a net margin of 2.63%. The firm had revenue of $650.15 million during the quarter, compared to the consensus estimate of $649.93 million. During the same period last year, the company earned $0.51 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that Trueblue will post 2.32 earnings per share for the current year.
In other news, CFO Derrek Lane Gafford sold 25,000 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $23.62, for a total transaction of $590,500.00. Following the completion of the transaction, the chief financial officer now directly owns 128,218 shares in the company, valued at $3,028,509.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Trueblue by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 15,262 shares of the business services provider’s stock valued at $340,000 after buying an additional 595 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Trueblue by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 29,121 shares of the business services provider’s stock valued at $648,000 after buying an additional 640 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trueblue by 42.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,738 shares of the business services provider’s stock valued at $61,000 after buying an additional 822 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Trueblue by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 96,800 shares of the business services provider’s stock valued at $2,154,000 after buying an additional 900 shares during the last quarter. Finally, Texas Permanent School Fund boosted its position in shares of Trueblue by 3.6% during the fourth quarter. Texas Permanent School Fund now owns 26,493 shares of the business services provider’s stock valued at $589,000 after buying an additional 930 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.
Trueblue Company Profile
TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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