TrueBlue (NYSE:TBI) Downgraded by TheStreet to “C+”

TrueBlue (NYSE:TBIGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Tuesday, TheStreetRatingsTable reports.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of TrueBlue from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. BMO Capital Markets cut shares of TrueBlue from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $36.00 to $20.00 in a report on Thursday, May 26th. Finally, Sidoti assumed coverage on TrueBlue in a research note on Monday, April 11th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $27.50.

Shares of TBI stock opened at $21.96 on Tuesday. The company’s fifty day simple moving average is $26.02 and its two-hundred day simple moving average is $26.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.76 and a quick ratio of 1.76. TrueBlue has a 1 year low of $19.20 and a 1 year high of $32.91. The stock has a market capitalization of $730.61 million, a price-to-earnings ratio of 11.87 and a beta of 1.48.

TrueBlue (NYSE:TBIGet Rating) last issued its earnings results on Monday, April 25th. The business services provider reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $552.00 million for the quarter, compared to analysts’ expectations of $531.28 million. TrueBlue had a net margin of 2.88% and a return on equity of 16.10%. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS.

In other TrueBlue news, CFO Derrek Lane Gafford purchased 15,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The stock was acquired at an average cost of $25.21 per share, for a total transaction of $378,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Pictet Asset Management SA boosted its position in shares of TrueBlue by 116.4% in the 4th quarter. Pictet Asset Management SA now owns 632,740 shares of the business services provider’s stock worth $17,508,000 after purchasing an additional 340,319 shares in the last quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new position in shares of TrueBlue during the fourth quarter valued at $6,579,000. BlackRock Inc. increased its holdings in shares of TrueBlue by 2.9% during the fourth quarter. BlackRock Inc. now owns 5,772,270 shares of the business services provider’s stock valued at $159,720,000 after acquiring an additional 161,577 shares in the last quarter. Morgan Stanley increased its holdings in shares of TrueBlue by 72.2% during the third quarter. Morgan Stanley now owns 246,245 shares of the business services provider’s stock valued at $6,668,000 after acquiring an additional 103,279 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of TrueBlue during the fourth quarter valued at $2,487,000. Institutional investors own 95.56% of the company’s stock.

TrueBlue Company Profile (Get Rating)

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers contingent staffing solutions for blue-collar, on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, and general labor industries.

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