Trueblue (NYSE:TBI) had its price target decreased by BMO Capital Markets from $30.00 to $29.00 in a research report released on Thursday morning. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.

A number of other brokerages also recently commented on TBI. Zacks Investment Research downgraded Trueblue from a hold rating to a sell rating in a research report on Thursday, November 2nd. TheStreet upgraded Trueblue from a c+ rating to a b rating in a research report on Friday, November 17th. Finally, Robert W. Baird raised their target price on Trueblue from $25.00 to $26.00 and gave the stock a neutral rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $27.50.

Shares of Trueblue (TBI) opened at $26.85 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.02 and a debt-to-equity ratio of 0.21. Trueblue has a 52-week low of $19.30 and a 52-week high of $29.50. The company has a market capitalization of $1,122.96, a P/E ratio of 20.19 and a beta of 2.28.

Trueblue (NYSE:TBI) last announced its quarterly earnings data on Wednesday, February 7th. The business services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. The company had revenue of $669.63 million during the quarter, compared to the consensus estimate of $667.66 million. During the same quarter last year, the company earned $0.58 EPS. The company’s quarterly revenue was down 8.9% on a year-over-year basis. sell-side analysts expect that Trueblue will post 1.86 earnings per share for the current fiscal year.

Trueblue declared that its board has approved a stock buyback program on Monday, October 30th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, EVP Wayne W. Larkin sold 12,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.54, for a total transaction of $359,604.00. Following the completion of the transaction, the executive vice president now owns 39,461 shares in the company, valued at approximately $1,126,216.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James E. Defebaugh sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $28.16, for a total value of $211,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,000 shares of company stock valued at $1,241,438 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in TBI. Wells Fargo & Company MN increased its holdings in Trueblue by 23.4% during the 2nd quarter. Wells Fargo & Company MN now owns 34,547 shares of the business services provider’s stock valued at $916,000 after purchasing an additional 6,555 shares in the last quarter. Teachers Advisors LLC increased its holdings in Trueblue by 4.3% during the 2nd quarter. Teachers Advisors LLC now owns 91,406 shares of the business services provider’s stock valued at $2,422,000 after purchasing an additional 3,747 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Trueblue by 5.0% during the 2nd quarter. New York State Common Retirement Fund now owns 78,099 shares of the business services provider’s stock valued at $2,070,000 after purchasing an additional 3,736 shares in the last quarter. Northern Trust Corp increased its holdings in Trueblue by 3.1% during the 2nd quarter. Northern Trust Corp now owns 548,662 shares of the business services provider’s stock valued at $14,540,000 after purchasing an additional 16,689 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Trueblue by 16.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock valued at $119,777,000 after purchasing an additional 627,033 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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About Trueblue

TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.

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