TrueBlue (NYSE:TBI) Receives Outperform Rating from BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of TrueBlue (NYSE:TBI) in a research report released on Monday, Benzinga reports. The firm currently has a $13.00 price target on the business services provider’s stock.

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

TrueBlue Trading Up 1.3 %

Shares of TBI opened at $10.32 on Monday. The firm has a fifty day simple moving average of $10.78 and a two-hundred day simple moving average of $12.49. The firm has a market cap of $315.33 million, a PE ratio of -27.88, a P/E/G ratio of 12.12 and a beta of 1.51. TrueBlue has a 1-year low of $9.96 and a 1-year high of $19.06.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, May 6th. The business services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.46. The company 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%. TrueBlue’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, research analysts forecast that TrueBlue will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Maryland State Retirement & Pension System bought a new stake in TrueBlue during the 4th quarter worth approximately $175,000. FMR LLC raised its position in shares of TrueBlue by 7,980.1% during the 3rd quarter. FMR LLC now owns 337,831 shares of the business services provider’s stock valued at $4,956,000 after purchasing an additional 333,650 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of TrueBlue by 1.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 300,211 shares of the business services provider’s stock valued at $4,404,000 after buying an additional 4,841 shares in the last quarter. First Hawaiian Bank boosted its holdings in TrueBlue by 36.0% in the 4th quarter. First Hawaiian Bank now owns 35,174 shares of the business services provider’s stock worth $540,000 after buying an additional 9,314 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in TrueBlue by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 820,728 shares of the business services provider’s stock worth $12,040,000 after buying an additional 58,254 shares in the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

About TrueBlue

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.