TrueBlue (NYSE:TBI) Price Target Lowered to $12.00 at BMO Capital Markets

TrueBlue (NYSE:TBI) had its target price reduced by stock analysts at BMO Capital Markets from $13.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 51.32% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird decreased their price objective on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th. StockNews.com cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research report on Tuesday.

TrueBlue Trading Down 2.1 %

TBI traded down $0.17 during midday trading on Wednesday, hitting $7.93. The company’s stock had a trading volume of 150,366 shares, compared to its average volume of 361,997. TrueBlue has a 52-week low of $7.67 and a 52-week high of $16.14. The firm has a 50-day moving average price of $10.64 and a two-hundred day moving average price of $11.43. The firm has a market cap of $242.42 million, a P/E ratio of -21.30, a PEG ratio of 13.71 and a beta of 1.51.

TrueBlue (NYSE:TBI) last issued its earnings results on Monday, August 5th. The business services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.30). The firm had revenue of $396.00 million during the quarter, compared to analyst estimates of $414.49 million. TrueBlue had a negative net margin of 0.63% and a positive return on equity of 3.02%. TrueBlue’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. On average, equities analysts expect that TrueBlue will post 0.06 EPS for the current year.

Institutional Investors Weigh In On TrueBlue

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of TrueBlue during the second quarter valued at about $35,000. Quest Partners LLC acquired a new stake in shares of TrueBlue during the fourth quarter worth approximately $74,000. Maryland State Retirement & Pension System acquired a new stake in shares of TrueBlue during the fourth quarter worth approximately $175,000. State Board of Administration of Florida Retirement System bought a new stake in shares of TrueBlue in the first quarter worth $192,000. Finally, Trexquant Investment LP bought a new position in TrueBlue during the 4th quarter valued at $228,000. 97.15% of the stock is owned by institutional investors and hedge funds.

TrueBlue Company Profile

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.