TrueBlue (NYSE:TBI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of TrueBlue (NYSE:TBI) from a sell rating to a hold rating in a research note released on Saturday morning.

A number of other analysts have also recently weighed in on TBI. Robert W. Baird set a $5.50 price target on TrueBlue in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research report on Monday, December 29th. Finally, Zacks Research downgraded TrueBlue from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $5.75.

TrueBlue Price Performance

Shares of NYSE:TBI opened at $3.99 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.24. TrueBlue has a fifty-two week low of $3.18 and a fifty-two week high of $7.78. The firm has a 50-day simple moving average of $4.26 and a 200 day simple moving average of $4.88. The company has a market cap of $120.00 million, a PE ratio of -2.50, a P/E/G ratio of 3.57 and a beta of 1.47.

TrueBlue (NYSE:TBI) last issued its earnings results on Wednesday, February 18th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). TrueBlue had a negative return on equity of 6.87% and a negative net margin of 2.97%.The business had revenue of $418.18 million during the quarter, compared to the consensus estimate of $413.31 million. On average, sell-side analysts anticipate that TrueBlue will post 0.15 EPS for the current year.

Insider Transactions at TrueBlue

In related news, CFO Carl Schweihs bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was purchased at an average price of $3.72 per share, for a total transaction of $46,500.00. Following the transaction, the chief financial officer directly owned 289,069 shares of the company’s stock, valued at approximately $1,075,336.68. This represents a 4.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Taryn R. Owen bought 20,400 shares of the stock in a transaction on Tuesday, February 24th. The shares were bought at an average cost of $3.79 per share, for a total transaction of $77,316.00. Following the purchase, the chief executive officer owned 791,807 shares in the company, valued at $3,000,948.53. This trade represents a 2.64% increase in their position. The SEC filing for this purchase provides additional information. 5.00% of the stock is owned by insiders.

Institutional Trading of TrueBlue

A number of institutional investors have recently made changes to their positions in TBI. Boston Partners boosted its holdings in shares of TrueBlue by 107.7% in the third quarter. Boston Partners now owns 1,614,404 shares of the business services provider’s stock valued at $9,895,000 after acquiring an additional 837,123 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of TrueBlue by 32.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider’s stock valued at $9,156,000 after acquiring an additional 492,984 shares during the period. Prosight Management LP raised its holdings in TrueBlue by 456.8% during the fourth quarter. Prosight Management LP now owns 442,554 shares of the business services provider’s stock worth $2,014,000 after purchasing an additional 363,078 shares in the last quarter. Russell Investments Group Ltd. lifted its position in TrueBlue by 80.8% in the fourth quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock worth $2,986,000 after purchasing an additional 293,363 shares during the period. Finally, Invenomic Capital Management LP lifted its position in TrueBlue by 60.5% in the fourth quarter. Invenomic Capital Management LP now owns 442,225 shares of the business services provider’s stock worth $2,012,000 after purchasing an additional 166,660 shares during the period. 97.15% of the stock is owned by institutional investors and hedge funds.

TrueBlue Company Profile

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.