Trueblue Inc (TBI) Receives $29.33 Consensus Price Target from Brokerages

Trueblue Inc (NYSE:TBI) has been given an average rating of “Hold” by the six analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $29.33.

Several analysts have weighed in on the company. ValuEngine raised Trueblue from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Credit Suisse Group assumed coverage on Trueblue in a report on Friday, August 10th. They issued a “neutral” rating and a $31.00 price target on the stock. Zacks Investment Research cut Trueblue from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. Robert W. Baird reaffirmed a “hold” rating and issued a $28.00 price target on shares of Trueblue in a report on Tuesday, July 31st. Finally, TheStreet raised Trueblue from a “c” rating to a “b-” rating in a report on Wednesday, August 1st.

NYSE TBI traded up $0.05 during trading hours on Friday, hitting $28.75. The company had a trading volume of 164,700 shares, compared to its average volume of 240,950. Trueblue has a 52 week low of $19.30 and a 52 week high of $29.55. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.17 billion, a P/E ratio of 16.52 and a beta of 1.88.

Trueblue (NYSE:TBI) last issued its earnings results on Monday, July 30th. The business services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Trueblue had a return on equity of 14.66% and a net margin of 2.57%. The business had revenue of $614.30 million during the quarter, compared to the consensus estimate of $601.43 million. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was up .7% compared to the same quarter last year. equities research analysts anticipate that Trueblue will post 2.23 EPS for the current year.

In related news, CEO Steven C. Cooper sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $28.35, for a total transaction of $1,559,250.00. Following the transaction, the chief executive officer now directly owns 196,983 shares of the company’s stock, valued at approximately $5,584,468.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sean A. Ebner sold 1,211 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $28.50, for a total value of $34,513.50. Following the transaction, the executive vice president now directly owns 13,989 shares in the company, valued at $398,686.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,211 shares of company stock worth $1,864,564. Insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in shares of Trueblue during the 2nd quarter valued at about $134,000. Signaturefd LLC raised its holdings in shares of Trueblue by 50.0% during the 2nd quarter. Signaturefd LLC now owns 11,009 shares of the business services provider’s stock valued at $297,000 after buying an additional 3,670 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Trueblue during the 2nd quarter valued at about $307,000. Glen Harbor Capital Management LLC raised its holdings in shares of Trueblue by 9.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 24,360 shares of the business services provider’s stock valued at $657,000 after buying an additional 2,184 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Trueblue in the 2nd quarter worth approximately $129,000. 94.74% of the stock is currently owned by institutional investors.

Trueblue Company Profile

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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