Trueblue (NYSE:TBI) posted its earnings results on Wednesday, February 7th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03, Briefing.com reports. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. The business had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $667.66 million. During the same period in the prior year, the business earned $0.58 EPS. Trueblue’s revenue for the quarter was down 8.9% compared to the same quarter last year. Trueblue updated its Q1 guidance to $0.18-0.24 EPS.
Trueblue (NYSE:TBI) traded down $0.50 during midday trading on Thursday, hitting $28.25. The stock had a trading volume of 85,198 shares, compared to its average volume of 236,891. The firm has a market cap of $1,190.00, a P/E ratio of 21.46 and a beta of 2.27. The company has a current ratio of 2.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21. Trueblue has a 12 month low of $19.30 and a 12 month high of $29.50.
A number of equities analysts have weighed in on TBI shares. Robert W. Baird upped their price target on Trueblue from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Zacks Investment Research downgraded Trueblue from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. BMO Capital Markets upped their price target on Trueblue from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 1st. Finally, TheStreet raised Trueblue from a “c+” rating to a “b” rating in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.67.
In other Trueblue news, EVP Wayne W. Larkin sold 12,600 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $28.54, for a total transaction of $359,604.00. Following the completion of the sale, the executive vice president now owns 39,461 shares of the company’s stock, valued at approximately $1,126,216.94. The sale was disclosed in a legal filing 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 on Monday, December 4th. The shares were sold at an average price of $28.06, for a total value of $670,634.00. The disclosure for this sale can be found here. In the last three months, insiders sold 57,371 shares of company stock valued at $1,611,495. 2.00% of the stock is currently owned by insiders.
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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.
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