Trueblue (TBI) Given New $26.00 Price Target at Robert W. Baird

Trueblue (NYSE:TBI) had its target price lowered by Robert W. Baird from $27.00 to $26.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the business services provider’s stock.

TBI has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Trueblue from a sell rating to a hold rating in a report on Thursday, April 11th. TheStreet upgraded shares of Trueblue from a c+ rating to a b- rating in a report on Tuesday, April 16th. BMO Capital Markets cut their price target on shares of Trueblue from $26.00 to $24.00 and set a market perform rating on the stock in a report on Monday, February 11th. Finally, ValuEngine upgraded shares of Trueblue from a sell rating to a hold rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Trueblue has a consensus rating of Hold and an average target price of $25.50.

NYSE:TBI opened at $24.68 on Tuesday. Trueblue has a 52 week low of $20.56 and a 52 week high of $29.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.91 and a current ratio of 1.79. The company has a market cap of $990.98 million, a PE ratio of 10.82 and a beta of 1.67.

Trueblue (NYSE:TBI) last posted its quarterly earnings results on Monday, April 29th. The business services provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. Trueblue had a net margin of 2.61% and a return on equity of 15.35%. The firm had revenue of $552.30 million for the quarter, compared to analysts’ expectations of $560.27 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts predict that Trueblue will post 2.29 earnings per share for the current fiscal year.

In related news, CFO Derrek Lane Gafford sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $23.62, for a total value of $590,500.00. Following the sale, the chief financial officer now owns 128,218 shares in the company, valued at $3,028,509.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Trueblue by 2.8% in the fourth quarter. BlackRock Inc. now owns 5,923,224 shares of the business services provider’s stock worth $131,792,000 after purchasing an additional 163,145 shares during the last quarter. Vanguard Group Inc boosted its holdings in Trueblue by 3.3% in the third quarter. Vanguard Group Inc now owns 4,801,552 shares of the business services provider’s stock worth $125,080,000 after purchasing an additional 151,841 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Trueblue by 3.3% in the third quarter. Vanguard Group Inc. now owns 4,801,552 shares of the business services provider’s stock worth $125,080,000 after purchasing an additional 151,841 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Trueblue by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,938,757 shares of the business services provider’s stock worth $65,387,000 after purchasing an additional 170,950 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Trueblue by 6.0% in the first quarter. Janus Henderson Group PLC now owns 925,915 shares of the business services provider’s stock worth $21,889,000 after purchasing an additional 52,028 shares during the last quarter. Institutional investors own 95.64% of the company’s stock.

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, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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