TrueBlue (NYSE:TBI) Raised to Hold at Zacks Research

TrueBlue (NYSE:TBI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Robert W. Baird set a $5.50 price target on shares of TrueBlue in a research note on Thursday, February 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TrueBlue in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.75.

TrueBlue Stock Up 0.8%

Shares of TBI stock opened at $4.54 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s 50-day moving average is $3.94 and its 200-day moving average is $4.68. The stock has a market cap of $137.68 million, a price-to-earnings ratio of -2.83, a PEG ratio of 4.02 and a beta of 1.47. TrueBlue has a 52-week low of $3.18 and a 52-week high of $7.78.

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). The firm had revenue of $418.18 million during the quarter, compared to the consensus estimate of $413.31 million. TrueBlue had a negative net margin of 2.97% and a negative return on equity of 6.87%. Sell-side analysts predict that TrueBlue will post 0.08 EPS for the current year.

Insider Transactions at TrueBlue

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

Institutional Trading of TrueBlue

Several large investors have recently made changes to their positions in TBI. Boston Partners lifted its stake in TrueBlue by 107.7% in the 3rd quarter. Boston Partners now owns 1,614,404 shares of the business services provider’s stock valued at $9,895,000 after purchasing an additional 837,123 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in TrueBlue by 32.4% in the 4th 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 purchasing an additional 492,984 shares during the last quarter. Prosight Management LP lifted its stake in TrueBlue by 456.8% in the 4th quarter. Prosight Management LP now owns 442,554 shares of the business services provider’s stock valued at $2,014,000 after purchasing an additional 363,078 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in TrueBlue by 80.8% in the 4th quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock valued at $2,986,000 after purchasing an additional 293,363 shares during the last quarter. Finally, Invenomic Capital Management LP lifted its stake in TrueBlue by 60.5% in the 4th quarter. Invenomic Capital Management LP now owns 442,225 shares of the business services provider’s stock valued at $2,012,000 after purchasing an additional 166,660 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.

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.