TrueBlue (NYSE:TBI - Free Report) had its target price hoisted by BMO Capital Markets from $7.00 to $8.00 in a report issued on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider's stock.
TrueBlue Price Performance
TBI stock traded down $0.24 during midday trading on Wednesday, reaching $5.83. 150,809 shares of the company's stock traded hands, compared to its average volume of 212,857. The company has a 50-day simple moving average of $6.63 and a two-hundred day simple moving average of $6.06. TrueBlue has a 1-year low of $3.45 and a 1-year high of $9.05. The company has a market cap of $174.17 million, a price-to-earnings ratio of -5.07 and a beta of 1.55. The company has a quick ratio of 1.80, a current ratio of 1.94 and a debt-to-equity ratio of 0.18.
TrueBlue (NYSE:TBI - Get Free Report) last released its earnings results on Monday, August 4th. The business services provider reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.24. The company had revenue of $396.30 million during the quarter, compared to analysts' expectations of $400.52 million. TrueBlue had a negative return on equity of 5.74% and a negative net margin of 2.21%. On average, analysts anticipate that TrueBlue will post 0.15 earnings per share for the current year.
Institutional Investors Weigh In On TrueBlue
Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of TrueBlue by 217.2% during the first quarter. GAMMA Investing LLC now owns 8,135 shares of the business services provider's stock worth $43,000 after purchasing an additional 5,570 shares during the period. Corton Capital Inc. acquired a new stake in shares of TrueBlue during the second quarter worth $76,000. Envestnet Asset Management Inc. acquired a new stake in shares of TrueBlue during the second quarter worth $83,000. XTX Topco Ltd acquired a new stake in shares of TrueBlue during the first quarter worth $86,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of TrueBlue during the second quarter worth $88,000. 97.15% of the stock is owned by institutional investors and hedge funds.
About TrueBlue
(
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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.
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