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.
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.
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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