Credit Suisse analyst Kevin Mcveigh maintained a Hold rating on Trueblue (TBI) yesterday and set a price target of $13.00. The company’s shares closed last Tuesday at $16.82.
According to TipRanks.com, Mcveigh is a 3-star analyst with an average return of 3.4% and a 61.4% success rate. Mcveigh covers the Services sector, focusing on stocks such as Emerald Expositions Events, Heidrick & Struggles, and BrightView Holdings.
Currently, the analyst consensus on Trueblue is a Moderate Buy with an average price target of $16.00.
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Based on Trueblue’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $494 million and GAAP net loss of $150 million. In comparison, last year the company earned revenue of $552 million and had a net profit of $8.28 million.
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TrueBlue, Inc. engages in the provision of staffing, recruitment process outsourcing, and managed service provider solutions. It operates through the following business segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers staffing solutions for blue-collar, contingent on-demand, and skilled labor to a broad range of industries that include retail, manufacturing, warehousing, logistics, energy, construction, hospitality, and others. The PeopleManagement segment supplies contingent labor and outsourced industrial workforce solutions. The PeopleScout segment covers the provision of permanent employee recruitment process outsourcing for its customers for all major industries and jobs. TrueBlue was founded by John Ross Coghlan and Glenn Welstad in 1989 and is headquartered in Tacoma, WA.
