A number of other research firms have also issued reports on TBI. Zacks Investment Research lowered TrueBlue from a hold rating to a sell rating in a research report on Saturday. Avondale Partners raised TrueBlue from an underperform rating to a market perform rating in a research report on Monday, December 19th. Finally, Deutsche Bank AG set a $18.00 target price on TrueBlue and gave the stock a sell rating in a research report on Tuesday, October 18th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $19.80.
TheStreet cut shares of TrueBlue, Inc. (NYSE:TBI) from a b- rating to a c rating in a research report released on Thursday.
TrueBlue (NYSE:TBI) opened at 25.20 on Thursday. TrueBlue has a 1-year low of $16.50 and a 1-year high of $27.57. The stock’s market capitalization is $1.05 billion. The firm’s 50-day moving average is $24.50 and its 200 day moving average is $22.17.
TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The company had revenue of $734.95 million for the quarter, compared to analyst estimates of $703.86 million. TrueBlue had a positive return on equity of 16.55% and a negative net margin of 0.55%. TrueBlue’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. Equities analysts anticipate that TrueBlue will post $1.53 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GMT Capital Corp increased its position in shares of TrueBlue by 206.0% in the third quarter. GMT Capital Corp now owns 1,749,073 shares of the company’s stock valued at $39,634,000 after buying an additional 1,177,473 shares during the period. JPMorgan Chase & Co. increased its stake in TrueBlue by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 425,975 shares of the company’s stock worth $9,652,000 after buying an additional 1,913 shares during the period. Prudential Financial Inc. increased its stake in TrueBlue by 72.4% in the third quarter. Prudential Financial Inc. now owns 229,260 shares of the company’s stock worth $5,195,000 after buying an additional 96,250 shares during the period. Royce & Associates LP increased its stake in TrueBlue by 12.0% in the second quarter. Royce & Associates LP now owns 2,195,486 shares of the company’s stock worth $41,539,000 after buying an additional 234,449 shares during the period. Finally, Matarin Capital Management LLC acquired a new stake in TrueBlue during the third quarter worth $3,326,000. Institutional investors own 88.46% of the company’s stock.
TrueBlue Company Profile
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.