TrueBlue (NYSE:TBI) Stock Rating Upgraded by BMO Capital Markets

BMO Capital Markets upgraded shares of TrueBlue (NYSE:TBI – Get Rating) from a market perform rating to an outperform rating in a research note published on Monday morning, The Fly reports. They currently have $20.00 price objective on the business services provider’s stock, up from their previous price objective of $18.00.

A number of other research analysts have also issued reports on the company. Robert W. Baird reduced their price target on TrueBlue from $21.00 to $20.00 in a research report on Tuesday, April 25th. StockNews.com began coverage on TrueBlue in a research report on Thursday, May 18th. They set a hold rating for the company.

TrueBlue Price Performance

NYSE:TBI opened at $17.14 on Monday. TrueBlue has a 12-month low of $14.20 and a 12-month high of $22.75. The firm has a market capitalization of $531.68 million, a P/E ratio of 11.99 and a beta of 1.44. The business has a 50 day simple moving average of $16.73 and a 200 day simple moving average of $18.56.

TrueBlue (NYSE:TBI – Get Rating) last released its quarterly earnings data on Monday, April 24th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. TrueBlue had a return on equity of 13.39% and a net margin of 2.19%. The business had revenue of $465.29 million during the quarter, compared to analyst estimates of $465.30 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was down 15.6% compared to the same quarter last year.

Insider Transactions at TrueBlue

In other TrueBlue news, EVP Garrett Ferencz purchased 4,944 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were purchased at an average cost of $15.17 per share, with a total value of $75,000.48. Following the completion of the transaction, the executive vice president now owns 67,566 shares of the company’s stock, valued at $1,024,976.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in TrueBlue by 1.6% in the third quarter. Vanguard Group Inc. now owns 4,230,361 shares of the business services provider’s stock valued at $80,715,000 after purchasing an additional 67,092 shares in the last quarter. Pzena Investment Management LLC grew its stake in TrueBlue by 16.7% in the first quarter. Pzena Investment Management LLC now owns 2,574,647 shares of the business services provider’s stock valued at $45,829,000 after purchasing an additional 368,815 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in TrueBlue by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,537,267 shares of the business services provider’s stock valued at $49,680,000 after purchasing an additional 42,316 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in TrueBlue by 1.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,510,550 shares of the business services provider’s stock valued at $44,688,000 after purchasing an additional 41,580 shares in the last quarter. Finally, State Street Corp grew its stake in TrueBlue by 2.2% in the first quarter. State Street Corp now owns 1,303,357 shares of the business services provider’s stock valued at $23,200,000 after purchasing an additional 28,292 shares in the last quarter. Hedge funds and other institutional investors own 96.65% of the company’s stock.

About TrueBlue

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TrueBlue, Inc engages in the provision of staffing, recruitment process outsourcing and managed service provider solutions. It operates through the following segments: PeopleReady, PeopleManagement and PeopleScout. The PeopleReady segment offers staffing solutions for blue-collar, contingent on-demand and skilled labor to a broad range of industries that include retail, manufacturing, warehousing, logistics, energy, construction, hospitality and others.