Todays Report: The TrueBlue Inc. (TBI) Receives $21.17 Consensus Target Price from Analysts

The TrueBlue Inc. (TBI) Receives $21.17 Consensus Target Price from Analysts

TrueBlue Inc. (NYSE:TBI) has received an average recommendation of “Hold” from the seven research firms that are covering the firm. Three analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $21.17.

TBI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of TrueBlue from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Saturday, August 6th. Deutsche Bank AG upgraded shares of TrueBlue from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Wednesday, November 9th. Finally, Avondale Partners cut shares of TrueBlue from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $20.00 to $15.00 in a research report on Thursday, October 20th.

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in TrueBlue by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 4,664,466 shares of the company’s stock worth $105,696,000 after buying an additional 355,499 shares in the last quarter. Vanguard Group Inc. raised its stake in TrueBlue by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,296,381 shares of the company’s stock worth $62,368,000 after buying an additional 98,585 shares in the last quarter. BlackRock Fund Advisors raised its stake in TrueBlue by 8.6% in the third quarter. BlackRock Fund Advisors now owns 2,887,543 shares of the company’s stock worth $65,432,000 after buying an additional 228,263 shares in the last quarter. Royce & Associates LP raised its stake in TrueBlue by 12.0% in the second quarter. Royce & Associates LP now owns 2,195,486 shares of the company’s stock worth $41,539,000 after buying an additional 234,449 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in TrueBlue by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,953,244 shares of the company’s stock worth $36,955,000 after buying an additional 8,473 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Shares of TrueBlue (NYSE:TBI) opened at 21.10 on Friday. The company’s 50 day moving average is $19.40 and its 200-day moving average is $20.56. TrueBlue has a one year low of $16.50 and a one year high of $30.08. The firm’s market capitalization is $870.27 million.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.05. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $715.69 million. TrueBlue had a positive return on equity of 16.47% and a negative net margin of 0.18%. TrueBlue’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. Equities analysts expect that TrueBlue will post $2.00 EPS for the current year.

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