Trueblue (NYSE:TBI) had its target price lowered by stock analysts at Sidoti from $22.00 to $20.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the business services provider’s stock. Sidoti’s price objective points to a potential upside of 17.37% from the company’s current price.
A number of other research analysts also recently weighed in on TBI. Zacks Investment Research downgraded Trueblue from a “hold” rating to a “strong sell” rating in a research note on Tuesday. TheStreet downgraded Trueblue from a “b-” rating to a “c” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.33.
TBI stock opened at $17.04 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.83 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $22.35 and a two-hundred day moving average price of $21.83. The company has a market cap of $635.36 million, a price-to-earnings ratio of 10.58 and a beta of 1.69. Trueblue has a twelve month low of $16.10 and a twelve month high of $25.75.
Trueblue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The company had revenue of $591.00 million during the quarter, compared to the consensus estimate of $601.26 million. Trueblue had a net margin of 2.66% and a return on equity of 13.06%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, equities research analysts anticipate that Trueblue will post 1.74 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of TBI. Morgan Stanley boosted its stake in shares of Trueblue by 1,319.2% during the 2nd quarter. Morgan Stanley now owns 196,455 shares of the business services provider’s stock worth $4,334,000 after acquiring an additional 182,612 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Trueblue during the 2nd quarter worth approximately $3,685,000. Bank of Montreal Can boosted its stake in shares of Trueblue by 106.1% during the 4th quarter. Bank of Montreal Can now owns 284,511 shares of the business services provider’s stock worth $6,846,000 after acquiring an additional 146,494 shares during the period. SG Americas Securities LLC boosted its stake in shares of Trueblue by 1,707.9% during the 4th quarter. SG Americas Securities LLC now owns 97,737 shares of the business services provider’s stock worth $2,352,000 after acquiring an additional 92,331 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Trueblue by 65.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 232,273 shares of the business services provider’s stock worth $4,901,000 after acquiring an additional 92,255 shares during the period. Institutional investors own 92.07% of the company’s stock.
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.
Featured Article: How to invest using market indexes
Receive News & Ratings for Trueblue Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trueblue and related companies with MarketBeat.com's FREE daily email newsletter.