Trueblue Inc (TBI) Given Average Recommendation of “Hold” by Brokerages

Trueblue Inc (NYSE:TBI) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $26.00.

TBI has been the subject of a number of research analyst reports. TheStreet raised Trueblue from a “c+” rating to a “b” rating in a report on Friday, November 17th. ValuEngine raised Trueblue from a “hold” rating to a “buy” rating in a report on Friday, October 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 price target on shares of Trueblue in a report on Friday, October 13th. Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price target on shares of Trueblue in a report on Friday, October 6th. Finally, Zacks Investment Research raised Trueblue from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th.

Trueblue (NYSE TBI) traded down $0.65 during trading on Tuesday, hitting $27.40. The company had a trading volume of 129,100 shares, compared to its average volume of 162,811. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.77. Trueblue has a fifty-two week low of $19.30 and a fifty-two week high of $29.50. The company has a market capitalization of $1,160.00, a PE ratio of 20.00 and a beta of 2.39.

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

Trueblue announced that its Board of Directors has approved a share buyback program on Monday, October 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, EVP Wayne W. Larkin sold 12,600 shares of Trueblue stock in a transaction dated 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 sale, the executive vice president now directly owns 39,461 shares in the company, valued at $1,126,216.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James E. Defebaugh sold 7,500 shares of Trueblue stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.16, for a total value of $211,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,985 shares of company stock valued at $1,939,509. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TBI. Meeder Asset Management Inc. increased its position in Trueblue by 192.7% in the third quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock worth $106,000 after purchasing an additional 3,098 shares during the period. Macquarie Group Ltd. acquired a new stake in Trueblue in the third quarter worth about $117,000. Jane Street Group LLC acquired a new stake in Trueblue in the third quarter worth about $203,000. Virginia Retirement Systems ET AL acquired a new stake in Trueblue in the third quarter worth about $209,000. Finally, FNY Managed Accounts LLC acquired a new stake in Trueblue in the third quarter worth about $215,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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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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