Analysts Set Trueblue Inc (NYSE:TBI) Price Target at $24.75

Shares of Trueblue Inc (NYSE:TBI) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.75.

A number of research firms have commented on TBI. ValuEngine upgraded Trueblue from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. TheStreet raised Trueblue from a “c” rating to a “b-” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded Trueblue from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a report on Saturday, November 2nd. Finally, Sidoti assumed coverage on Trueblue in a research note on Monday, October 7th. They set a “neutral” rating and a $22.00 target price on the stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in Trueblue by 1,319.2% during the 2nd quarter. Morgan Stanley now owns 196,455 shares of the business services provider’s stock worth $4,334,000 after buying an additional 182,612 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Trueblue in the second quarter valued at $3,685,000. Janus Henderson Group PLC boosted its holdings in Trueblue by 17.3% in the second quarter. Janus Henderson Group PLC now owns 1,086,268 shares of the business services provider’s stock valued at $23,963,000 after purchasing an additional 160,353 shares during the period. AQR Capital Management LLC boosted its holdings in Trueblue by 24.2% in the second quarter. AQR Capital Management LLC now owns 539,780 shares of the business services provider’s stock valued at $11,908,000 after purchasing an additional 105,204 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Trueblue by 65.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 232,273 shares of the business services provider’s stock worth $4,901,000 after purchasing an additional 92,255 shares in the last quarter. 92.29% of the stock is owned by institutional investors and hedge funds.

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Shares of Trueblue stock traded down $0.14 on Thursday, reaching $22.99. The company had a trading volume of 2,352 shares, compared to its average volume of 147,141. The firm’s 50 day moving average price is $22.86 and its two-hundred day moving average price is $21.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.88 and a current ratio of 1.88. Trueblue has a 52-week low of $18.62 and a 52-week high of $25.75. The firm has a market cap of $908.05 million, a PE ratio of 10.08 and a beta of 1.66.

Trueblue (NYSE:TBI) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.10. Trueblue had a net margin of 2.85% and a return on equity of 14.81%. The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $624.63 million. During the same quarter last year, the company posted $0.79 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Trueblue will post 2.04 EPS for the current year.

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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