BMO Capital Markets Reaffirms Outperform Rating for TrueBlue (NYSE:TBI)

BMO Capital Markets reaffirmed their outperform rating on shares of TrueBlue (NYSE:TBIFree Report) in a research report released on Monday morning, Benzinga reports. BMO Capital Markets currently has a $13.00 price objective on the business services provider’s stock.

Separately, Robert W. Baird lowered their target price on TrueBlue from $14.00 to $13.00 and set an outperform rating for the company in a research note on Tuesday, May 7th.

Get Our Latest Report on TBI

TrueBlue Stock Performance

NYSE TBI opened at $10.25 on Monday. TrueBlue has a fifty-two week low of $9.96 and a fifty-two week high of $19.06. The stock has a 50 day simple moving average of $10.74 and a two-hundred day simple moving average of $12.45. The stock has a market cap of $313.34 million, a P/E ratio of -27.70, a price-to-earnings-growth ratio of 12.27 and a beta of 1.51.

TrueBlue (NYSE:TBIGet Free Report) last released its quarterly earnings data on Monday, May 6th. The business services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.46. The business had revenue of $403.00 million during the quarter, compared to analysts’ expectations of $400.24 million. TrueBlue had a positive return on equity of 3.02% and a negative net margin of 0.63%. The business’s revenue was down 13.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. Sell-side analysts predict that TrueBlue will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in TrueBlue by 59.8% during the 3rd quarter. Barclays PLC now owns 56,022 shares of the business services provider’s stock valued at $821,000 after buying an additional 20,969 shares in the last quarter. New York State Common Retirement Fund increased its position in TrueBlue by 41.2% during the 3rd quarter. New York State Common Retirement Fund now owns 39,818 shares of the business services provider’s stock valued at $584,000 after buying an additional 11,624 shares in the last quarter. Amalgamated Bank increased its position in TrueBlue by 10.4% during the 3rd quarter. Amalgamated Bank now owns 13,151 shares of the business services provider’s stock valued at $193,000 after buying an additional 1,234 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in TrueBlue by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 820,728 shares of the business services provider’s stock valued at $12,040,000 after buying an additional 58,254 shares in the last quarter. Finally, Deutsche Bank AG increased its position in TrueBlue by 5.5% during the 3rd quarter. Deutsche Bank AG now owns 35,999 shares of the business services provider’s stock valued at $528,000 after buying an additional 1,885 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

About TrueBlue

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for TrueBlue Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueBlue and related companies with MarketBeat.com's FREE daily email newsletter.