TheStreet Upgrades TrueBlue, Inc. (NYSE:TBI) to “B”

TrueBlue, Inc. (NYSE:TBI) was upgraded by TheStreet from a “c” rating to a “b” rating in a research note issued to investors on Monday, July 31st.

Several other research analysts also recently commented on TBI. BidaskClub downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, BMO Capital Markets restated a “sell” rating and set a $20.00 price objective on shares of TrueBlue in a report on Wednesday, April 5th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. TrueBlue has an average rating of “Hold” and an average target price of $21.25.

TrueBlue (NYSE:TBI) opened at 19.85 on Monday. The company has a 50-day moving average price of $25.10 and a 200-day moving average price of $26.03. TrueBlue has a 12-month low of $16.50 and a 12-month high of $28.70. The stock has a market capitalization of $825.32 million, a price-to-earnings ratio of 14.02 and a beta of 2.34.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $610.10 million during the quarter, compared to analyst estimates of $610.04 million. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. TrueBlue’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. On average, equities research analysts forecast that TrueBlue will post $1.69 earnings per share for the current year.

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In other TrueBlue news, CFO Derrek Lane Gafford sold 20,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $27.75, for a total value of $555,000.00. Following the transaction, the chief financial officer now directly owns 91,859 shares in the company, valued at $2,549,087.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $28.32, for a total transaction of $708,000.00. Following the transaction, the director now owns 73,581 shares in the company, valued at $2,083,813.92. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of TrueBlue by 50,858.0% in the first quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock worth $141,280,000 after buying an additional 5,155,477 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TrueBlue by 16.1% in the second quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock valued at $119,777,000 after buying an additional 627,033 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of TrueBlue by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock valued at $55,441,000 after buying an additional 24,233 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of TrueBlue by 2.6% in the second quarter. Alliancebernstein L.P. now owns 1,380,711 shares of the business services provider’s stock valued at $36,589,000 after buying an additional 35,040 shares in the last quarter. Finally, FMR LLC raised its position in shares of TrueBlue by 16.1% in the second quarter. FMR LLC now owns 1,209,465 shares of the business services provider’s stock valued at $32,051,000 after buying an additional 168,165 shares in the last quarter. Institutional investors own 92.66% of the company’s stock.

About TrueBlue

TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.

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