Trueblue (TBI) Lifted to “Hold” at ValuEngine

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ValuEngine upgraded shares of Trueblue (NYSE:TBI) from a sell rating to a hold rating in a report issued on Monday, ValuEngine reports.

Several other research firms also recently weighed in on TBI. Zacks Investment Research downgraded Trueblue from a hold rating to a sell rating in a research report on Tuesday, February 12th. BMO Capital Markets cut their price objective on Trueblue from $26.00 to $24.00 and set a market perform rating on the stock in a report on Monday, February 11th. Finally, TheStreet downgraded Trueblue from a b- rating to a c rating in a report on Monday, December 31st. Five research analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and an average target price of $25.50.

Shares of TBI stock opened at $24.48 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.79 and a quick ratio of 1.91. The company has a market cap of $992.38 million, a price-to-earnings ratio of 10.74 and a beta of 1.67. Trueblue has a 12-month low of $20.56 and a 12-month high of $29.85.

Trueblue (NYSE:TBI) last released its quarterly earnings results on Monday, April 29th. The business services provider reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The business had revenue of $552.30 million during the quarter, compared to analysts’ expectations of $560.27 million. Trueblue had a return on equity of 15.35% and a net margin of 2.61%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, sell-side analysts anticipate that Trueblue will post 2.29 EPS for the current fiscal year.

In related news, CFO Derrek Lane Gafford sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $23.62, for a total transaction of $590,500.00. Following the sale, the chief financial officer now directly owns 128,218 shares in the company, valued at approximately $3,028,509.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in TBI. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Trueblue by 42.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,738 shares of the business services provider’s stock valued at $61,000 after buying an additional 822 shares during the period. Quantamental Technologies LLC acquired a new stake in Trueblue during the 4th quarter valued at approximately $71,000. Sterling Investment Advisors Ltd. grew its stake in Trueblue by 100.0% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 2,000 shares in the last quarter. Bessemer Group Inc. acquired a new stake in Trueblue during the 4th quarter valued at approximately $138,000. Finally, Pacer Advisors Inc. grew its stake in Trueblue by 141.5% during the 3rd quarter. Pacer Advisors Inc. now owns 5,618 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 3,292 shares in the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.

About Trueblue

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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