TrueBlue (NYSE:TBI) Stock Rating Upgraded by Wall Street Zen

TrueBlue (NYSE:TBI) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

A number of other equities research analysts have also recently issued reports on TBI. Weiss Ratings reiterated a “sell (d-)” rating on shares of TrueBlue in a research note on Monday, December 29th. BMO Capital Markets reduced their target price on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.

TrueBlue Stock Performance

Shares of TBI stock opened at $5.26 on Friday. The company has a market cap of $157.33 million, a P/E ratio of -5.53, a PEG ratio of 0.77 and a beta of 1.47. The business has a 50 day moving average of $4.83 and a two-hundred day moving average of $5.64. TrueBlue has a 52 week low of $3.45 and a 52 week high of $8.55. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.22.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. TrueBlue had a negative return on equity of 4.42% and a negative net margin of 1.78%.The business had revenue of $431.27 million for the quarter, compared to analysts’ expectations of $409.01 million. As a group, analysts anticipate that TrueBlue will post 0.15 EPS for the current year.

Institutional Trading of TrueBlue

A number of hedge funds and other institutional investors have recently made changes to their positions in TBI. State of Wyoming boosted its holdings in shares of TrueBlue by 601.2% in the third quarter. State of Wyoming now owns 9,558 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 8,195 shares in the last quarter. Federated Hermes Inc. acquired a new stake in TrueBlue in the second quarter worth approximately $69,000. Corton Capital Inc. acquired a new stake in TrueBlue in the second quarter worth approximately $76,000. Envestnet Asset Management Inc. acquired a new position in shares of TrueBlue during the 2nd quarter valued at $83,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of TrueBlue during the 2nd quarter valued at $88,000. 97.15% of the stock is currently owned by institutional investors.

About TrueBlue

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.