Trueblue (TBI) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Trueblue (NYSE:TBI) from a buy rating to a hold rating in a research report released on Thursday morning.

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. “

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



TBI traded up $0.15 during midday trading on Thursday, hitting $27.20. 44,630 shares of the company traded hands, compared to its average volume of 240,201. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.21. The company has a market cap of $1,103.25, a price-to-earnings ratio of 15.43 and a beta of 2.15. Trueblue has a 52-week low of $19.30 and a 52-week high of $29.50.

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

In related news, Director Bonnie W. Soodik sold 20,871 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $27.85, for a total transaction of $581,257.35. Following the completion of the sale, the director now directly owns 2,119 shares in the company, valued at $59,014.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC acquired a new stake in Trueblue during the fourth quarter worth about $1,033,000. MetLife Investment Advisors LLC acquired a new stake in shares of Trueblue during the fourth quarter valued at about $538,000. Municipal Employees Retirement System of Michigan increased its position in shares of Trueblue by 82.4% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 29,130 shares of the business services provider’s stock valued at $801,000 after acquiring an additional 13,160 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of Trueblue by 18.8% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 183,929 shares of the business services provider’s stock valued at $5,057,000 after acquiring an additional 29,100 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Trueblue during the fourth quarter valued at about $929,000. Hedge funds and other institutional investors own 94.67% of the company’s stock.

WARNING: “Trueblue (TBI) Downgraded by Zacks Investment Research” was published by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://dakotafinancialnews.com/2018/04/13/trueblue-tbi-downgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Trueblue (TBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.



Leave a Reply