TrueBlue (NYSE:TBI) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded TrueBlue from “hold” to “buy,” although the broader analyst consensus remains “Hold” with a $7.75 target price.
• TrueBlue reported quarterly EPS of $0.06, beating expectations for a $0.10 loss, while revenue of $443 million exceeded estimates of $417.84 million.
• The stock opened at $10.21, near its 12-month high of $10.65, and institutional investors own 97.15% of the company after several major funds recently increased or initiated positions.

TrueBlue (NYSE:TBI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently issued reports on the company. Zacks Research raised TrueBlue from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Robert W. Baird set a $9.50 target price on TrueBlue in a research note on Wednesday. Finally, Weiss Ratings upgraded TrueBlue from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.75.

TrueBlue Trading Up 0.0%

NYSE TBI opened at $10.21 on Friday. TrueBlue has a twelve month low of $3.18 and a twelve month high of $10.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.09 and a current ratio of 2.28. The stock has a market cap of $310.64 million, a price-to-earnings ratio of -5.43, a PEG ratio of 12.14 and a beta of 1.60. The firm's 50 day moving average price is $7.49 and its two-hundred day moving average price is $5.62.

TrueBlue (NYSE:TBI - Get Free Report) last released its earnings results on Tuesday, August 4th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.16. The company had revenue of $443.00 million during the quarter, compared to analyst estimates of $417.84 million. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%. Equities analysts anticipate that TrueBlue will post 0.06 EPS for the current year.

Institutional Trading of TrueBlue

Institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC bought a new position in shares of TrueBlue in the 2nd quarter valued at approximately $21,543,000. BlackRock Inc. bought a new stake in TrueBlue during the second quarter worth approximately $15,550,000. Boston Partners grew its holdings in TrueBlue by 37.6% during the fourth quarter. Boston Partners now owns 2,220,850 shares of the business services provider's stock valued at $10,106,000 after purchasing an additional 606,446 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in TrueBlue by 32.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider's stock valued at $9,156,000 after purchasing an additional 492,984 shares during the last quarter. Finally, Azarias Capital Management L.P. raised its position in shares of TrueBlue by 1.3% in the first quarter. Azarias Capital Management L.P. now owns 1,001,950 shares of the business services provider's stock valued at $3,918,000 after purchasing an additional 13,070 shares during the period. Institutional investors and hedge funds own 97.15% of the company's stock.

About TrueBlue

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company's offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue's primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.

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