Key Points
- CFO Carl Schweihs bought 12,500 TrueBlue shares at $3.72 on Feb. 23 for $46,500, raising his stake to 289,069 shares (a 4.52% increase); the trade was disclosed in an SEC filing.
- Shares slid about 4.8% (opened $3.48) after TrueBlue reported Q4 EPS of ($0.25) versus a ($0.08) consensus — a notable earnings miss — though revenue of $418.18M slightly beat estimates and margins/ROE remained negative.
- Analyst sentiment is mixed-to-negative with a MarketBeat consensus rating of Reduce and a $5.75 target, several recent downgrades and target cuts, while institutional investors own roughly 97% of the stock and some funds have materially increased positions.
TrueBlue, Inc. (NYSE:TBI - Get Free Report) CFO Carl Schweihs acquired 12,500 shares of TrueBlue stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $3.72 per share, for a total transaction of $46,500.00. Following the purchase, the chief financial officer directly owned 289,069 shares of the company's stock, valued at approximately $1,075,336.68. This trade represents a 4.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
TrueBlue Stock Down 4.8%
TBI stock opened at $3.48 on Wednesday. The company has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $5.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $104.73 million, a P/E ratio of -2.18, a PEG ratio of 3.27 and a beta of 1.49. TrueBlue, Inc. has a one year low of $3.44 and a one year high of $7.78.
TrueBlue (NYSE:TBI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The business services provider reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.17). TrueBlue had a negative return on equity of 6.87% and a negative net margin of 2.97%.The business had revenue of $418.18 million for the quarter, compared to analysts' expectations of $413.31 million. As a group, sell-side analysts expect that TrueBlue, Inc. will post 0.15 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts recently commented on TBI shares. Robert W. Baird set a $5.50 price target on shares of TrueBlue in a research report on Thursday, February 19th. Weiss Ratings restated a "sell (d-)" rating on shares of TrueBlue in a report on Monday, December 29th. Zacks Research lowered TrueBlue from a "hold" rating to a "strong sell" rating in a research report on Friday, February 20th. Wall Street Zen downgraded TrueBlue from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, BMO Capital Markets dropped their price target on TrueBlue from $8.00 to $6.00 and set an "outperform" rating for the company in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, TrueBlue has an average rating of "Reduce" and a consensus target price of $5.75.
Read Our Latest Stock Report on TrueBlue
Institutional Trading of TrueBlue
Several large investors have recently added to or reduced their stakes in the stock. Boston Partners raised its position in TrueBlue by 107.7% in the third quarter. Boston Partners now owns 1,614,404 shares of the business services provider's stock valued at $9,895,000 after purchasing an additional 837,123 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of TrueBlue by 32.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider's stock valued at $9,156,000 after buying an additional 492,984 shares in the last quarter. Prosight Management LP raised its holdings in shares of TrueBlue by 456.8% during the 4th quarter. Prosight Management LP now owns 442,554 shares of the business services provider's stock valued at $2,014,000 after buying an additional 363,078 shares during the period. Russell Investments Group Ltd. lifted its position in TrueBlue by 80.8% during the 4th quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider's stock worth $2,986,000 after acquiring an additional 293,363 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its position in TrueBlue by 60.5% during the 4th quarter. Invenomic Capital Management LP now owns 442,225 shares of the business services provider's stock worth $2,012,000 after acquiring an additional 166,660 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.
About TrueBlue
(
Get Free Report)
TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company's offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.
TrueBlue's primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
