Deutsche Bank AG Upgrades TrueBlue Inc. (TBI) to “Hold”
TrueBlue Inc. (NYSE:TBI) was upgraded by equities research analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a report issued on Wednesday. The brokerage presently has a $18.00 target price on the stock. Deutsche Bank AG’s target price would suggest a potential downside of 7.46% from the company’s previous close.
Several other equities research analysts have also commented on TBI. Zacks Investment Research raised shares of TrueBlue from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Saturday, July 23rd. Avondale Partners lowered shares of TrueBlue from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $20.00 to $15.00 in a research report on Thursday, October 20th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.71.
Shares of TrueBlue (NYSE:TBI) opened at 19.45 on Wednesday. The company’s market capitalization is $802.22 million. The firm’s 50-day moving average is $20.17 and its 200 day moving average is $20.51. TrueBlue has a 12 month low of $16.50 and a 12 month high of $30.08.
TrueBlue (NYSE:TBI) last issued its earnings results on Wednesday, October 19th. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.05. TrueBlue had a positive return on equity of 16.47% and a negative net margin of 0.18%. The business earned $697.10 million during the quarter, compared to analysts’ expectations of $715.69 million. During the same period last year, the firm posted $0.54 EPS. TrueBlue’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that TrueBlue will post $2.00 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in TrueBlue by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 4,664,466 shares of the company’s stock valued at $105,696,000 after buying an additional 355,499 shares in the last quarter. Vanguard Group Inc. raised its stake in TrueBlue by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,296,381 shares of the company’s stock valued at $62,368,000 after buying an additional 98,585 shares in the last quarter. BlackRock Fund Advisors raised its stake in TrueBlue by 8.6% in the third quarter. BlackRock Fund Advisors now owns 2,887,543 shares of the company’s stock valued at $65,432,000 after buying an additional 228,263 shares in the last quarter. Royce & Associates LP raised its stake in TrueBlue by 12.0% in the second quarter. Royce & Associates LP now owns 2,195,486 shares of the company’s stock valued at $41,539,000 after buying an additional 234,449 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in TrueBlue by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,953,244 shares of the company’s stock valued at $36,955,000 after buying an additional 8,473 shares in the last quarter. 91.79% of the stock is owned by institutional investors.
TrueBlue Company Profile
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.
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