Equities analysts expect TrueBlue, Inc. (NYSE:TBI) to post sales of $652.13 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for TrueBlue’s earnings. The lowest sales estimate is $651.91 million and the highest is $652.34 million. TrueBlue posted sales of $697.10 million during the same quarter last year, which suggests a negative year over year growth rate of 6.5%. The firm is expected to report its next earnings results on Wednesday, October 18th.

According to Zacks, analysts expect that TrueBlue will report full-year sales of $652.13 million for the current year, with estimates ranging from $2.51 billion to $2.52 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.58 billion per share, with estimates ranging from $2.55 billion to $2.62 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow TrueBlue.

TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $610.10 million during the quarter, compared to the consensus estimate of $610.04 million. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share.

Several analysts have recently commented on the stock. TheStreet downgraded shares of TrueBlue from a “b-” rating to a “c+” rating in a report on Friday. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 price objective (down from $26.00) on shares of TrueBlue in a report on Friday, August 11th. BidaskClub downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. TrueBlue has an average rating of “Hold” and a consensus price target of $21.25.

In other TrueBlue news, Director Joseph P. Sambataro, Jr. sold 25,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $28.32, for a total transaction of $708,000.00. Following the completion of the transaction, the director now directly owns 73,581 shares in the company, valued at $2,083,813.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derrek Lane Gafford sold 20,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $27.75, for a total transaction of $555,000.00. Following the transaction, the chief financial officer now owns 91,859 shares of the company’s stock, valued at $2,549,087.25. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in TrueBlue by 50,858.0% in the first quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock worth $141,280,000 after buying an additional 5,155,477 shares in the last quarter. Vanguard Group Inc. boosted its position in TrueBlue by 16.1% in the second quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock worth $119,777,000 after buying an additional 627,033 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in TrueBlue by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock worth $55,441,000 after buying an additional 24,233 shares in the last quarter. Alliancebernstein L.P. boosted its position in TrueBlue by 2.6% in the second quarter. Alliancebernstein L.P. now owns 1,380,711 shares of the business services provider’s stock worth $36,589,000 after buying an additional 35,040 shares in the last quarter. Finally, FMR LLC boosted its position in TrueBlue by 16.1% in the second quarter. FMR LLC now owns 1,209,465 shares of the business services provider’s stock worth $32,051,000 after buying an additional 168,165 shares in the last quarter. Institutional investors own 88.29% of the company’s stock.

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Shares of TrueBlue (NYSE:TBI) opened at 19.55 on Tuesday. TrueBlue has a 1-year low of $16.50 and a 1-year high of $28.70. The company has a market capitalization of $812.85 million, a P/E ratio of 13.81 and a beta of 2.34. The firm has a 50-day moving average of $23.98 and a 200 day moving average of $25.83.

About TrueBlue

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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