Trueblue (NYSE:TBI) announced its earnings results on Wednesday. The business services provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03, Briefing.com reports. The firm had revenue of $669.63 million during the quarter, compared to analyst estimates of $667.66 million. Trueblue had a net margin of 2.22% and a return on equity of 14.05%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. Trueblue updated its Q1 guidance to $0.18-0.24 EPS.
Trueblue (NYSE:TBI) traded up $0.45 during trading on Thursday, hitting $26.35. 247,854 shares of the stock were exchanged, compared to its average volume of 204,306. Trueblue has a one year low of $19.30 and a one year high of $29.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $1,062.99, a P/E ratio of 19.89 and a beta of 2.28.
A number of equities analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Trueblue from $30.00 to $29.00 and set a “market perform” rating for the company in a research note on Thursday. TheStreet upgraded shares of Trueblue from a “c+” rating to a “b” rating in a research note on Friday, November 17th. Zacks Investment Research downgraded shares of Trueblue from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Robert W. Baird increased their price objective on shares of Trueblue from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Trueblue presently has an average rating of “Hold” and an average target price of $27.50.
In related news, EVP Wayne W. Larkin sold 12,600 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $28.54, for a total value of $359,604.00. Following the completion of the sale, the executive vice president now directly owns 39,461 shares in the company, valued at approximately $1,126,216.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven C. Cooper sold 23,900 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $28.06, for a total transaction of $670,634.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,000 shares of company stock valued at $1,241,438. Company insiders own 2.00% 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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