Shares of Trueblue Inc (NYSE:TBI) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.67.
A number of research analysts have weighed in on the company. BMO Capital Markets decreased their price target on Trueblue from $30.00 to $29.00 and set a “market perform” rating for the company in a research note on Thursday, February 8th. Zacks Investment Research upgraded Trueblue from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a research note on Tuesday. TheStreet upgraded Trueblue from a “c+” rating to a “b” rating in a research note on Friday, November 17th. Finally, Robert W. Baird raised their price target on Trueblue from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st.
In other Trueblue news, EVP Wayne W. Larkin sold 12,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.54, for a total value of $359,604.00. Following the completion of the transaction, the executive vice president now directly owns 39,461 shares in the company, valued at $1,126,216.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bonnie W. Soodik sold 20,871 shares of Trueblue stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $27.85, for a total value of $581,257.35. Following the transaction, the director now owns 2,119 shares of the company’s stock, valued at $59,014.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,371 shares of company stock valued at $1,611,495. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TBI. Meeder Asset Management Inc. boosted its stake in shares of Trueblue by 192.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock worth $106,000 after acquiring an additional 3,098 shares during the period. Macquarie Group Ltd. bought a new position in shares of Trueblue during the 3rd quarter worth approximately $117,000. Schroder Investment Management Group bought a new position in shares of Trueblue during the 4th quarter worth approximately $149,000. Jane Street Group LLC bought a new position in shares of Trueblue during the 3rd quarter worth approximately $203,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Trueblue during the 3rd quarter worth approximately $209,000. Institutional investors own 90.52% of the company’s stock.
Trueblue (TBI) traded down $0.35 during trading hours on Friday, hitting $28.45. The company had a trading volume of 316,823 shares, compared to its average volume of 291,181. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.77 and a current ratio of 2.02. The company has a market capitalization of $1,191.21, a P/E ratio of 21.39 and a beta of 2.28. Trueblue has a fifty-two week low of $19.30 and a fifty-two week high of $29.50.
Trueblue (NYSE:TBI) last posted its quarterly earnings data on Wednesday, February 7th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The business had revenue of $669.63 million during the quarter, compared to the consensus estimate of $667.66 million. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. Trueblue’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. research analysts anticipate that Trueblue will post 2.21 EPS for the current year.
Trueblue declared that its board has authorized a share buyback plan on Monday, October 30th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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