Trueblue (TBI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Trueblue (NYSE:TBI) from a buy rating to a hold rating in a research note published 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. “

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Separately, BMO Capital Markets restated a hold rating and issued a $30.00 target price on shares of Trueblue in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $28.67.

NYSE TBI opened at $27.05 on Thursday. The firm has a market cap of $1,111.47, a price-to-earnings ratio of 15.55 and a beta of 2.15. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.21. Trueblue has a fifty-two week low of $19.30 and a fifty-two week high of $29.50.

Trueblue (NYSE:TBI) last released its quarterly earnings data on Wednesday, February 7th. The business services provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. The company had revenue of $669.63 million for the quarter, compared to analyst estimates of $667.66 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. equities analysts anticipate that Trueblue will post 2.21 EPS for the current year.

In other Trueblue news, Director Bonnie W. Soodik sold 20,871 shares of Trueblue stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $27.85, for a total value of $581,257.35. Following the sale, the director now owns 2,119 shares in the company, valued at $59,014.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new stake in Trueblue in the third quarter valued at $117,000. Schroder Investment Management Group purchased a new stake in Trueblue in the fourth quarter valued at $149,000. Jane Street Group LLC purchased a new stake in Trueblue in the third quarter valued at $203,000. Virginia Retirement Systems ET AL purchased a new stake in Trueblue in the third quarter valued at $209,000. Finally, Stoneridge Investment Partners LLC purchased a new stake in Trueblue in the fourth quarter valued at $241,000. Institutional investors own 94.67% of the company’s stock.

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About Trueblue

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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