TrueBlue (NYSE:TBI) Price Target Lowered to $13.00 at Robert W. Baird

TrueBlue (NYSE:TBI) had its price objective cut by Robert W. Baird from $14.00 to $13.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

TrueBlue Stock Performance

Shares of NYSE TBI opened at $10.33 on Tuesday. The firm’s 50 day moving average price is $11.40 and its 200 day moving average price is $12.88. The firm has a market cap of $324.25 million, a P/E ratio of -23.48 and a beta of 1.51. TrueBlue has a 1 year low of $10.15 and a 1 year high of $19.06.

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

Institutional Trading of TrueBlue

Institutional investors and hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in shares of TrueBlue by 27.2% in the 4th quarter. Pzena Investment Management LLC now owns 3,092,337 shares of the business services provider’s stock valued at $47,436,000 after buying an additional 661,496 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of TrueBlue by 9.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 897,352 shares of the business services provider’s stock worth $13,765,000 after purchasing an additional 76,624 shares in the last quarter. Azarias Capital Management L.P. boosted its holdings in TrueBlue by 196.7% in the first quarter. Azarias Capital Management L.P. now owns 886,121 shares of the business services provider’s stock worth $11,094,000 after purchasing an additional 587,427 shares in the last quarter. AQR Capital Management LLC grew its holdings in TrueBlue by 6.3% during the third quarter. AQR Capital Management LLC now owns 477,612 shares of the business services provider’s stock valued at $7,007,000 after purchasing an additional 28,399 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of TrueBlue by 12.8% during the 3rd quarter. American Century Companies Inc. now owns 473,011 shares of the business services provider’s stock worth $6,939,000 after purchasing an additional 53,517 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

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.