TrueBlue, Inc. (NYSE:TBI) had its target price boosted by BMO Capital Markets from $23.00 to $26.00 in a research note published on Wednesday, November 1st. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.
Other analysts have also issued reports about the company. BidaskClub lowered TrueBlue from a hold rating to a sell rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered TrueBlue from a hold rating to a sell rating in a research note on Thursday, August 3rd. Robert W. Baird lifted their price objective on TrueBlue from $25.00 to $26.00 and gave the company a neutral rating in a research note on Tuesday, October 31st. TheStreet raised TrueBlue from a c rating to a b rating in a research note on Monday, July 31st. Finally, ValuEngine lowered TrueBlue from a buy rating to a hold rating in a research note on Friday, September 1st. Two 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 stock. The stock has an average rating of Hold and a consensus price target of $26.00.
Shares of TrueBlue (NYSE TBI) opened at $28.30 on Wednesday. The company has a market capitalization of $1,170.53, a PE ratio of 15.81 and a beta of 2.37. TrueBlue has a 52-week low of $19.30 and a 52-week high of $28.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.77.
TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. TrueBlue had a return on equity of 14.05% and a net margin of 2.22%. The firm had revenue of $660.78 million during the quarter, compared to analysts’ expectations of $651.91 million. During the same quarter last year, the business posted $0.70 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. analysts expect that TrueBlue will post 1.7 earnings per share for the current year.
TrueBlue announced that its board has initiated a stock repurchase program on Monday, October 30th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, EVP Wayne W. Larkin sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $20.38, for a total transaction of $203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph P. Sambataro, Jr. sold 16,985 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $27.28, for a total value of $463,350.80. Following the transaction, the director now owns 56,596 shares of the company’s stock, valued at $1,543,938.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,985 shares of company stock worth $1,131,871 over the last 90 days. 2.00% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in TrueBlue by 50,858.0% during the 1st quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock worth $141,280,000 after acquiring an additional 5,155,477 shares during the period. Vanguard Group Inc. lifted its holdings in shares of TrueBlue by 16.1% in the second quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock valued at $119,777,000 after buying an additional 627,033 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of TrueBlue by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock valued at $55,441,000 after buying an additional 24,233 shares during the period. Alliancebernstein L.P. raised its position in shares of TrueBlue by 2.6% during the second quarter. Alliancebernstein L.P. now owns 1,380,711 shares of the business services provider’s stock worth $36,589,000 after purchasing an additional 35,040 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of TrueBlue by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 1,238,560 shares of the business services provider’s stock worth $27,682,000 after purchasing an additional 141,579 shares during the period. Institutional investors own 91.46% 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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