Zacks Investment Research downgraded shares of Trueblue (NYSE:TBI) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “TrueBlue, Inc. is a leading provider of specialized workforce solutions, helping clients improve growth and performance by providing staffing, workforce management, and recruitment process outsourcing solutions. The company’s specialized workforce solutions meet clients’ needs for a reliable, efficient workforce in a wide variety of industries. “

TBI has been the subject of several other reports. ValuEngine upgraded Trueblue from a sell rating to a hold rating in a report on Friday, November 16th. Credit Suisse Group reduced their price target on Trueblue from $31.00 to $25.00 and set a hold rating for the company in a report on Tuesday, November 6th. TheStreet lowered Trueblue from a b- rating to a c rating in a report on Monday, December 31st. Finally, BMO Capital Markets reduced their price target on Trueblue from $26.00 to $24.00 and set a market perform rating for the company in a report on Monday, February 11th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Trueblue currently has an average rating of Hold and an average target price of $26.00.

Shares of Trueblue stock opened at $23.79 on Tuesday. The stock has a market cap of $963.14 million, a PE ratio of 10.43 and a beta of 1.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 2.03. Trueblue has a 52-week low of $20.56 and a 52-week high of $29.85.

Trueblue (NYSE:TBI) last announced its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The business had revenue of $650.15 million during the quarter, compared to analyst estimates of $649.93 million. Trueblue had a return on equity of 15.95% and a net margin of 2.63%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Equities analysts expect that Trueblue will post 2.32 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Trueblue by 2.8% in the 4th quarter. BlackRock Inc. now owns 5,923,224 shares of the business services provider’s stock valued at $131,792,000 after acquiring an additional 163,145 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Trueblue by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,801,552 shares of the business services provider’s stock valued at $125,080,000 after acquiring an additional 151,841 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Trueblue by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 4,801,552 shares of the business services provider’s stock valued at $125,080,000 after acquiring an additional 151,841 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Trueblue by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,938,757 shares of the business services provider’s stock valued at $65,387,000 after acquiring an additional 170,950 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Trueblue in the 3rd quarter valued at approximately $19,464,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

About Trueblue

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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