Zacks Investment Research lowered shares of Trueblue (NYSE:TBI) from a buy rating to a hold rating in a research report released on Thursday.
According to Zacks, “TrueBlue, Inc. is a leading provider of specialized workforce solutions, helping clients improve growth and performance by providing staffing, workforce management, and recruitment process outsourcing solutions. The company’s specialized workforce solutions meet clients’ needs for a reliable, efficient workforce in a wide variety of industries. “
TBI has been the subject of a number of other reports. ValuEngine downgraded Trueblue from a hold rating to a sell rating in a research note on Tuesday, November 6th. TheStreet downgraded Trueblue from a b- rating to a c rating in a research note on Monday, December 31st. Finally, Credit Suisse Group cut their target price on Trueblue from $31.00 to $25.00 and set a hold rating for the company in a research note on Tuesday, November 6th. Five analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average target price of $27.25.
Trueblue stock opened at $23.78 on Thursday. Trueblue has a twelve month low of $20.56 and a twelve month high of $29.85. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.18. The company has a market cap of $961.53 million, a price-to-earnings ratio of 13.67 and a beta of 1.80.
Trueblue (NYSE:TBI) last issued its earnings results on Monday, November 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $680.40 million during the quarter, compared to the consensus estimate of $672.74 million. Trueblue had a return on equity of 15.62% and a net margin of 2.67%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. As a group, research analysts forecast that Trueblue will post 2.26 EPS for the current year.
Several hedge funds have recently modified their holdings of TBI. BlackRock Inc. increased its position in Trueblue by 5.7% during the third quarter. BlackRock Inc. now owns 5,760,079 shares of the business services provider’s stock worth $150,049,000 after buying an additional 309,494 shares in the last quarter. Vanguard Group Inc. increased its position in Trueblue by 3.3% during the third quarter. Vanguard Group Inc. now owns 4,801,552 shares of the business services provider’s stock worth $125,080,000 after buying an additional 151,841 shares in the last quarter. Vanguard Group Inc increased its position in Trueblue by 3.3% during the third quarter. Vanguard Group Inc now owns 4,801,552 shares of the business services provider’s stock worth $125,080,000 after buying an additional 151,841 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Trueblue by 8.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,767,807 shares of the business services provider’s stock worth $72,100,000 after buying an additional 220,911 shares in the last quarter. Finally, FMR LLC increased its position in Trueblue by 6.7% during the second quarter. FMR LLC now owns 1,249,211 shares of the business services provider’s stock worth $33,666,000 after buying an additional 78,126 shares in the last quarter. 92.91% of the stock is owned by institutional investors and hedge funds.
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, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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