Trueblue Inc (TBI) Given Average Rating of “Hold” by Analysts

Shares of Trueblue Inc (NYSE:TBI) have received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $26.00.

Several research analysts recently commented on the stock. TheStreet raised shares of Trueblue from a “c+” rating to a “b” rating in a research note on Friday, November 17th. Zacks Investment Research downgraded shares of Trueblue from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. BMO Capital Markets boosted their price objective on shares of Trueblue from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, November 1st. Robert W. Baird boosted their price objective on shares of Trueblue from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, ValuEngine raised shares of Trueblue from a “hold” rating to a “buy” rating in a research report on Friday, October 6th.

In other Trueblue news, EVP Wayne W. Larkin sold 12,600 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $28.54, for a total transaction of $359,604.00. Following the transaction, the executive vice president now directly owns 39,461 shares of the company’s stock, valued at approximately $1,126,216.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven C. Cooper sold 23,900 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $28.06, for a total transaction of $670,634.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,985 shares of company stock worth $2,169,509. Insiders own 2.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of TBI. Meeder Asset Management Inc. increased its position in Trueblue by 192.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 3,098 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Trueblue during the 3rd quarter valued at $117,000. Jane Street Group LLC bought a new stake in shares of Trueblue during the 3rd quarter valued at $203,000. Virginia Retirement Systems ET AL bought a new stake in shares of Trueblue during the 3rd quarter valued at $209,000. Finally, FNY Managed Accounts LLC bought a new stake in shares of Trueblue during the 3rd quarter valued at $215,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of Trueblue (NYSE:TBI) traded up $0.20 during midday trading on Friday, hitting $28.80. 123,100 shares of the company traded hands, compared to its average volume of 290,502. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.20. Trueblue has a 12 month low of $19.30 and a 12 month high of $29.50. The stock has a market capitalization of $1,182.94, a P/E ratio of 15.98 and a beta of 2.38.

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

Trueblue declared that its Board of Directors has initiated a share buyback plan on Monday, October 30th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management 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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