TrueBlue, Inc. (TBI) EVP James E. Defebaugh Sells 7,500 Shares
TrueBlue, Inc. (NYSE:TBI) EVP James E. Defebaugh sold 7,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.16, for a total transaction of $211,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.
TrueBlue, Inc. (NYSE:TBI) traded down $0.40 during trading hours on Wednesday, hitting $28.00. 499,500 shares of the stock were exchanged, compared to its average volume of 293,842. The stock has a market cap of $1,140.00, a P/E ratio of 15.87 and a beta of 2.37. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. TrueBlue, Inc. has a 12-month low of $19.30 and a 12-month high of $28.70.
TrueBlue (NYSE:TBI) last released its earnings results on Monday, October 30th. The business services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The firm had revenue of $660.78 million for the quarter, compared to the consensus estimate of $651.91 million. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. analysts expect that TrueBlue, Inc. will post 1.7 EPS for the current fiscal year.
TrueBlue announced that its board has authorized a share buyback program on Monday, October 30th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently added to or reduced their stakes in TBI. BlackRock Inc. grew its position 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 buying an additional 5,155,477 shares during the period. Vanguard Group Inc. grew its position in shares of TrueBlue by 16.1% in the 2nd 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 during the period. Ameriprise Financial Inc. grew its position in shares of TrueBlue by 28.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 840,797 shares of the business services provider’s stock worth $22,281,000 after buying an additional 184,641 shares during the period. ClariVest Asset Management LLC grew its position in shares of TrueBlue by 115.7% in the 2nd quarter. ClariVest Asset Management LLC now owns 325,008 shares of the business services provider’s stock worth $8,611,000 after buying an additional 174,303 shares during the period. Finally, FMR LLC grew its position in shares of TrueBlue by 16.1% in the 2nd 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 during the period. 91.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on TBI shares. TheStreet raised shares of TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. ValuEngine raised shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Robert W. Baird reissued a “hold” rating and set a $25.00 price objective on shares of TrueBlue in a research report on Friday, October 6th. Zacks Investment Research raised shares of TrueBlue from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 target price (down from $26.00) on shares of TrueBlue in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.00.
TrueBlue Company Profile
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.
Receive News & Ratings for TrueBlue Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueBlue Inc. and related companies with MarketBeat.com's FREE daily email newsletter.