TrueBlue, Inc. (TBI) EVP Sells $230,000.00 in Stock
TrueBlue, Inc. (NYSE:TBI) EVP Wayne W. Larkin sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $23.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now owns 52,061 shares in the company, valued at approximately $1,197,403. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Wayne W. Larkin also recently made the following trade(s):
- On Friday, September 1st, Wayne W. Larkin sold 10,000 shares of TrueBlue stock. The shares were sold at an average price of $20.38, for a total value of $203,800.00.
Shares of TrueBlue, Inc. (NYSE TBI) traded up 0.43% during mid-day trading on Tuesday, hitting $23.20. 226,091 shares of the company’s stock traded hands. The stock has a market cap of $964.61 million, a P/E ratio of 16.38 and a beta of 2.40. TrueBlue, Inc. has a 1-year low of $16.50 and a 1-year high of $28.70. The stock has a 50 day moving average price of $20.87 and a 200-day moving average price of $24.80.
TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The company had revenue of $610.10 million during the quarter, compared to the consensus estimate of $610.04 million. During the same period in the prior year, the company earned $0.54 EPS. TrueBlue’s revenue was down 9.3% on a year-over-year basis. Equities research analysts anticipate that TrueBlue, Inc. will post $1.69 EPS for the current fiscal year.
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A number of research firms have commented on TBI. BidaskClub downgraded TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. BMO Capital Markets restated a “hold” rating and issued a $23.00 price target (down previously from $26.00) on shares of TrueBlue in a research report on Friday, August 11th. Finally, ValuEngine cut TrueBlue from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $21.25.
Several institutional investors and hedge funds have recently made changes to their positions in TBI. BlackRock Inc. raised its holdings in shares of TrueBlue by 50,858.0% in the 1st quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock worth $141,280,000 after purchasing an additional 5,155,477 shares in the last quarter. Vanguard Group Inc. lifted its stake in TrueBlue by 16.1% during the second quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock valued at $119,777,000 after purchasing an additional 627,033 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in TrueBlue by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock valued at $55,441,000 after purchasing an additional 24,233 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in TrueBlue by 2.6% during 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 holdings in TrueBlue by 16.1% during 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. 89.82% of the stock is currently owned by institutional investors.
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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