Trueblue Inc (TBI) Director Bonnie W. Soodik Sells 20,871 Shares

Trueblue Inc (NYSE:TBI) Director Bonnie W. Soodik sold 20,871 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $27.85, for a total transaction of $581,257.35. Following the completion of the sale, the director now directly owns 2,119 shares in the company, valued at $59,014.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of Trueblue Inc (NYSE:TBI) traded up $0.70 on Wednesday, reaching $28.75. 352,568 shares of the company were exchanged, compared to its average volume of 239,938. The stock has a market capitalization of $1,190.00, a P/E ratio of 21.46 and a beta of 2.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.02 and a quick ratio of 1.77. Trueblue Inc has a 1-year low of $19.30 and a 1-year high of $29.50.

Trueblue (NYSE:TBI) last announced its earnings results on Wednesday, February 7th. The business services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $669.63 million for the quarter, compared to the consensus estimate of $667.66 million. Trueblue had a net margin of 2.21% and a return on equity of 13.30%. Trueblue’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. research analysts anticipate that Trueblue Inc will post 2.21 EPS for the current year.

Trueblue announced that its Board of Directors has authorized a share repurchase plan on Monday, October 30th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in TBI. Meeder Asset Management Inc. grew its position in Trueblue by 192.7% during the third quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 3,098 shares during the last quarter. Macquarie Group Ltd. bought a new position in Trueblue during the third quarter valued at approximately $117,000. Schroder Investment Management Group bought a new position in Trueblue during the fourth quarter valued at approximately $149,000. Jane Street Group LLC bought a new position in Trueblue during the third quarter valued at approximately $203,000. Finally, Virginia Retirement Systems ET AL bought a new position in Trueblue during the third quarter valued at approximately $209,000. 90.52% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on TBI. BMO Capital Markets lowered their target price on shares of Trueblue from $30.00 to $29.00 and set a “market perform” rating on the stock in a research note on Thursday, February 8th. Zacks Investment Research raised shares of Trueblue from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a research note on Tuesday. TheStreet raised shares of Trueblue from a “c+” rating to a “b” rating in a research note on Friday, November 17th. Finally, Robert W. Baird raised their target price on shares of Trueblue from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $28.67.

TRADEMARK VIOLATION NOTICE: “Trueblue Inc (TBI) Director Bonnie W. Soodik Sells 20,871 Shares” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/14/trueblue-inc-tbi-director-bonnie-w-soodik-sells-20871-shares.html.

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.

Insider Buying and Selling by Quarter for Trueblue (NYSE:TBI)

Receive News & Ratings for Trueblue Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trueblue and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply