Trueblue Inc (NYSE:TBI) has received an average rating of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $26.00.

Several research firms have recently weighed in on TBI. TheStreet raised Trueblue from a “c+” rating to a “b” rating in a research note on Friday, November 17th. ValuEngine raised Trueblue from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. BMO Capital Markets reissued a “hold” rating and set a $23.00 price objective on shares of Trueblue in a research note on Friday, October 13th. Robert W. Baird reissued a “hold” rating and set a $25.00 price objective on shares of Trueblue in a research note on Friday, October 6th. Finally, Zacks Investment Research raised Trueblue from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th.

Shares of Trueblue (NYSE:TBI) traded up $0.65 during midday trading on Tuesday, reaching $28.20. The company’s stock had a trading volume of 180,895 shares, compared to its average volume of 169,508. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.20. The company has a market cap of $1,162.26, a price-to-earnings ratio of 20.74 and a beta of 2.39. Trueblue has a 52-week low of $19.30 and a 52-week high of $29.50.

Trueblue (NYSE:TBI) last issued its quarterly earnings results on Monday, October 30th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $660.78 million during the quarter, compared to analyst estimates of $651.91 million. Trueblue had a return on equity of 14.05% and a net margin of 2.22%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. analysts predict that Trueblue will post 1.7 EPS for the current year.

Trueblue announced that its board has authorized a stock repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, EVP James E. Defebaugh sold 7,500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $28.16, for a total transaction of $211,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven C. Cooper sold 23,900 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $28.06, for a total value of $670,634.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,985 shares of company stock valued at $1,939,509. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Trueblue by 16.1% in the second quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock worth $119,777,000 after buying an additional 627,033 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Trueblue by 28.1% in the second quarter. Ameriprise Financial Inc. now owns 840,797 shares of the business services provider’s stock worth $22,281,000 after buying an additional 184,641 shares during the period. FMR LLC boosted its position in shares of Trueblue by 16.1% in the second quarter. FMR LLC now owns 1,209,465 shares of the business services provider’s stock worth $32,051,000 after buying an additional 168,165 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Trueblue in the third quarter worth $3,423,000. Finally, Acadian Asset Management LLC boosted its position in shares of Trueblue by 88.2% in the fourth quarter. Acadian Asset Management LLC now owns 306,388 shares of the business services provider’s stock worth $8,425,000 after buying an additional 143,575 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

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Trueblue Company Profile

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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