TrueBlue (NYSE:TBI) Given New $13.00 Price Target at BMO Capital Markets

TrueBlue (NYSE:TBI) had its target price dropped by analysts at BMO Capital Markets from $15.00 to $13.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 23.05% from the company’s previous close.

Separately, Robert W. Baird dropped their target price on TrueBlue from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday.

TrueBlue Stock Down 0.2 %

TrueBlue stock opened at $10.57 on Wednesday. TrueBlue has a 52 week low of $10.15 and a 52 week high of $19.06. The firm has a market cap of $331.62 million, a price-to-earnings ratio of -23.48 and a beta of 1.51. The business’s 50-day moving average price is $11.40 and its 200 day moving average price is $12.88.

TrueBlue (NYSE:TBI) last posted its earnings results on Monday, May 6th. The business services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.46. TrueBlue had a negative net margin of 0.74% and a positive return on equity of 2.39%. The firm had revenue of $403.00 million during the quarter, compared to analyst estimates of $400.24 million. During the same period in the previous year, the firm earned ($0.06) EPS. The business’s quarterly revenue was down 13.4% on a year-over-year basis. Equities analysts expect that TrueBlue will post -0.51 EPS for the current year.

Institutional Trading of TrueBlue

A number of institutional investors and hedge funds have recently modified their holdings of TBI. Amalgamated Bank boosted its holdings in TrueBlue by 10.4% in the 3rd quarter. Amalgamated Bank now owns 13,151 shares of the business services provider’s stock worth $193,000 after buying an additional 1,234 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of TrueBlue by 5.5% in the third quarter. Deutsche Bank AG now owns 35,999 shares of the business services provider’s stock worth $528,000 after acquiring an additional 1,885 shares during the last quarter. SG Americas Securities LLC raised its stake in TrueBlue by 12.8% in the 4th quarter. SG Americas Securities LLC now owns 19,931 shares of the business services provider’s stock valued at $306,000 after purchasing an additional 2,268 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TrueBlue by 46.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,483 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 3,635 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in TrueBlue during the 4th quarter worth $74,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

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.