TrueBlue (NYSE:TBI) Given New $13.00 Price Target at Robert W. Baird

TrueBlue (NYSE:TBI) had its price objective cut by research analysts at Robert W. Baird from $14.00 to $13.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 23.28% from the stock’s current price.

TrueBlue Price Performance

NYSE TBI opened at $10.55 on Tuesday. TrueBlue has a 1 year low of $10.15 and a 1 year high of $19.06. The business’s 50-day moving average is $11.38 and its 200 day moving average is $12.86. The stock has a market capitalization of $331.00 million, a PE ratio of -23.43 and a beta of 1.51.

TrueBlue (NYSE:TBI) last issued its quarterly earnings data on Monday, May 6th. The business services provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.43) by $0.46. TrueBlue had a negative net margin of 0.74% and a positive return on equity of 2.39%. The business had revenue of $403.00 million during the quarter, compared to analyst estimates of $400.24 million. During the same period last year, the business posted ($0.06) earnings per share. TrueBlue’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that TrueBlue will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On TrueBlue

Large investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new position in TrueBlue in the 4th quarter worth approximately $74,000. Quantbot Technologies LP purchased a new position in TrueBlue in the 3rd quarter worth approximately $158,000. Jump Financial LLC purchased a new position in TrueBlue in the 3rd quarter worth approximately $162,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in TrueBlue by 46.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,483 shares of the business services provider’s stock worth $168,000 after purchasing an additional 3,635 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new stake in TrueBlue during the 4th quarter valued at $175,000. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

About TrueBlue

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.