TrueBlue Inc. (TBI) Receives $21.17 Consensus Target Price from Analysts
TrueBlue Inc. (NYSE:TBI) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock. Three analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $21.17.
Several research analysts recently issued reports on TBI shares. Deutsche Bank AG set a $18.00 price target on shares of TrueBlue and gave the stock a “sell” rating in a research report on Tuesday, October 18th. Avondale Partners lowered shares of TrueBlue from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $20.00 to $15.00 in a report on Thursday, October 20th. Finally, Zacks Investment Research lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Saturday, October 22nd.
TrueBlue (NYSE:TBI) opened at 21.10 on Friday. The firm’s 50-day moving average price is $19.40 and its 200 day moving average price is $20.56. TrueBlue has a 52-week low of $16.50 and a 52-week high of $30.08. The stock’s market cap is $870.27 million.
TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $715.69 million. During the same period last year, the company earned $0.54 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts predict that TrueBlue will post $2.00 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in TBI. Royce & Associates LP boosted 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 during the period. Cortina Asset Management LLC bought a new stake in TrueBlue during the second quarter valued at approximately $4,077,000. First Midwest Bank Trust Division boosted its stake in TrueBlue by 46.7% in the second quarter. First Midwest Bank Trust Division now owns 15,060 shares of the company’s stock valued at $285,000 after buying an additional 4,794 shares during the period. Emerald Acquisition Ltd. bought a new stake in TrueBlue during the second quarter valued at approximately $2,005,000. Finally, PineBridge Investments L.P. boosted its stake in TrueBlue by 4.8% in the second quarter. PineBridge Investments L.P. now owns 5,385 shares of the company’s stock valued at $102,000 after buying an additional 249 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.
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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