TrueBlue, Inc. (NYSE:TBI) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a report released on Thursday.
TBI has been the subject of several other research reports. Zacks Investment Research upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Wednesday, December 21st. Deutsche Bank AG upgraded shares of TrueBlue from a “sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Wednesday, November 9th. Finally, Avondale Partners downgraded shares of TrueBlue from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $20.00 to $15.00 in a research note on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.80.
Shares of TrueBlue (NYSE:TBI) opened at 25.20 on Thursday. TrueBlue has a one year low of $16.50 and a one year high of $27.57. The company has a 50 day moving average of $24.50 and a 200-day moving average of $22.17. The firm’s market cap is $1.05 billion.
TrueBlue (NYSE:TBI) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. TrueBlue had a negative net margin of 0.55% and a positive return on equity of 16.55%. The firm had revenue of $734.95 million for the quarter, compared to analyst estimates of $703.86 million. During the same period last year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, analysts expect that TrueBlue will post $1.53 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in TrueBlue during the fourth quarter worth approximately $1,577,000. Systematic Financial Management LP raised its position in TrueBlue by 7.1% in the fourth quarter. Systematic Financial Management LP now owns 4,835 shares of the company’s stock worth $119,000 after buying an additional 320 shares during the period. FMR LLC raised its position in TrueBlue by 9.5% in the fourth quarter. FMR LLC now owns 786,093 shares of the company’s stock worth $19,377,000 after buying an additional 68,258 shares during the period. Martingale Asset Management L P raised its position in TrueBlue by 11.1% in the fourth quarter. Martingale Asset Management L P now owns 69,453 shares of the company’s stock worth $1,713,000 after buying an additional 6,935 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in TrueBlue by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,088,053 shares of the company’s stock worth $51,471,000 after buying an additional 135,335 shares during the period. 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.
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