TrueBlue, Inc. (NYSE:TBI) posted its quarterly earnings data on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42, Bloomberg Earnings reports. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The firm had revenue of $610.10 million for the quarter, compared to analyst estimates of $610.04 million. During the same quarter last year, the company earned $0.54 EPS. The company’s revenue was down 9.3% on a year-over-year basis. TrueBlue updated its Q3 guidance to $0.550$0.60 EPS.
Shares of TrueBlue (NYSE:TBI) opened at 19.80 on Friday. The company’s 50 day moving average price is $24.17 and its 200 day moving average price is $25.85. TrueBlue has a 12-month low of $16.50 and a 12-month high of $28.70. The firm has a market cap of $823.24 million, a P/E ratio of 13.98 and a beta of 2.34.
TBI has been the topic of a number of recent research reports. BMO Capital Markets restated a “sell” rating and set a $25.00 price objective on shares of TrueBlue in a research note on Wednesday, May 3rd. Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub downgraded TrueBlue from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, TheStreet raised TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.25.
In other TrueBlue news, CFO Derrek Lane Gafford sold 20,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $27.75, for a total transaction of $555,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,859 shares in the company, valued at $2,549,087.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $28.32, for a total transaction of $708,000.00. Following the sale, the director now owns 73,581 shares of the company’s stock, valued at $2,083,813.92. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of TBI. State of Alaska Department of Revenue raised its stake in TrueBlue by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the business services provider’s stock valued at $127,000 after buying an additional 60 shares during the last quarter. Nordea Investment Management AB purchased a new stake in TrueBlue during the first quarter worth $170,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in TrueBlue during the second quarter worth $236,000. 1st Global Advisors Inc. raised its stake in TrueBlue by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 8,754 shares of the business services provider’s stock worth $239,000 after buying an additional 120 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in TrueBlue during the second quarter worth $244,000. Institutional investors and hedge funds own 88.29% of the company’s stock.
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TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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