TrueBlue (NYSE:TBI) Upgraded at Zacks Research

Zacks Research upgraded shares of TrueBlue (NYSE:TBI) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

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

TrueBlue Stock Up 0.6%

TBI opened at $4.58 on Monday. The business’s 50-day simple moving average is $3.94 and its 200-day simple moving average is $4.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.15 and a current ratio of 2.15. TrueBlue has a one year low of $3.18 and a one year high of $7.78. The stock has a market capitalization of $138.93 million, a P/E ratio of -2.86, a price-to-earnings-growth ratio of 4.06 and a beta of 1.47.

TrueBlue (NYSE:TBI) last posted its earnings results on Wednesday, February 18th. The business services provider reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). TrueBlue had a negative return on equity of 6.87% and a negative net margin of 2.97%.The firm had revenue of $418.18 million for the quarter, compared to analyst estimates of $413.31 million. Analysts anticipate that TrueBlue will post 0.08 EPS for the current year.

Insider Activity

In related news, CFO Carl Schweihs purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average price of $3.72 per share, for a total transaction of $46,500.00. Following the transaction, the chief financial officer directly owned 289,069 shares of the company’s stock, valued at approximately $1,075,336.68. The trade was a 4.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Taryn R. Owen purchased 20,400 shares of the company’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 transaction, the chief executive officer directly owned 791,807 shares in the company, valued at $3,000,948.53. This trade represents a 2.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On TrueBlue

Several institutional investors have recently added to or reduced their stakes in the stock. Boston Partners increased its position in TrueBlue by 37.6% in the 4th quarter. Boston Partners now owns 2,220,850 shares of the business services provider’s stock valued at $10,106,000 after acquiring an additional 606,446 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 492,984 shares during the period. Azarias Capital Management L.P. increased its position in TrueBlue by 1.3% in the 1st quarter. Azarias Capital Management L.P. now owns 1,001,950 shares of the business services provider’s stock valued at $3,918,000 after acquiring an additional 13,070 shares during the period. Geode Capital Management LLC increased its position in TrueBlue by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after acquiring an additional 3,269 shares during the period. Finally, Russell Investments Group Ltd. increased its position 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 acquiring an additional 293,363 shares during the period. 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.