TrueBlue, Inc. (NYSE:TBI) EVP Wayne W. Larkin sold 12,600 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,126,216.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
TrueBlue, Inc. (NYSE TBI) opened at $27.20 on Wednesday. The stock has a market capitalization of $1,166.40, a P/E ratio of 15.75 and a beta of 2.38. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.20. 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 Monday, October 30th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $660.78 million for the quarter, compared to analysts’ expectations of $651.91 million. TrueBlue had a return on equity of 14.05% and a net margin of 2.22%. TrueBlue’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share. research analysts forecast that TrueBlue, Inc. will post 1.7 EPS for the current year.
TrueBlue declared that its Board of Directors has initiated a stock buyback plan on Monday, October 30th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in shares of TrueBlue by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the business services provider’s stock valued at $458,000 after buying an additional 100 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in TrueBlue by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,510 shares of the business services provider’s stock worth $1,153,000 after purchasing an additional 165 shares during the last quarter. Jennison Associates LLC boosted its position in TrueBlue by 0.5% in the second quarter. Jennison Associates LLC now owns 37,797 shares of the business services provider’s stock worth $1,002,000 after purchasing an additional 192 shares during the last quarter. Arizona State Retirement System boosted its position in TrueBlue by 0.9% in the second quarter. Arizona State Retirement System now owns 22,228 shares of the business services provider’s stock worth $589,000 after purchasing an additional 200 shares during the last quarter. Finally, NGAM Advisors L.P. boosted its position in TrueBlue by 1.8% in the second quarter. NGAM Advisors L.P. now owns 21,513 shares of the business services provider’s stock worth $570,000 after purchasing an additional 374 shares during the last quarter. 90.55% of the stock is currently owned by institutional investors.
A number of brokerages have commented on TBI. TheStreet cut TrueBlue from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. BMO Capital Markets reissued a “hold” rating and issued a $23.00 price objective (down previously from $26.00) on shares of TrueBlue in a research note on Friday, August 11th. Robert W. Baird lifted their target price on TrueBlue from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Zacks Investment Research cut TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, ValuEngine cut TrueBlue from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.00.
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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