Key Points
- TrueBlue CEO Taryn Owen bought 20,400 shares at an average price of $3.79 on Feb. 24, raising her direct stake to 791,807 shares (a 2.64% increase) worth roughly $3.0 million.
- Company fundamentals and analyst sentiment are weak: TrueBlue missed quarterly EPS (-$0.25 vs. -$0.08 estimate), shows negative net margin and ROE, and several analysts have downgraded the stock, leaving a MarketBeat consensus rating of "Reduce" with a $5.75 target.
TrueBlue, Inc. (NYSE:TBI - Get Free Report) CEO Taryn Owen bought 20,400 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was acquired at an average price of $3.79 per share, for a total transaction of $77,316.00. Following the purchase, the chief executive officer directly owned 791,807 shares in the company, valued at approximately $3,000,948.53. The trade was a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
TrueBlue Stock Performance
Shares of TBI opened at $4.04 on Friday. The stock has a 50 day moving average of $4.78 and a 200 day moving average of $5.27. The company has a market capitalization of $121.44 million, a price-to-earnings ratio of -2.58, a PEG ratio of 3.39 and a beta of 1.49. TrueBlue, Inc. has a 12 month low of $3.44 and a 12 month high of $7.78. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.24.
TrueBlue (NYSE:TBI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.17). TrueBlue had a negative net margin of 2.97% and a negative return on equity of 6.87%. The business had revenue of $418.18 million during the quarter, compared to the consensus estimate of $413.31 million. As a group, sell-side analysts forecast that TrueBlue, Inc. will post 0.15 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Zacks Research cut shares of TrueBlue from a "hold" rating to a "strong sell" rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TrueBlue in a report on Monday, December 29th. Wall Street Zen lowered TrueBlue from a "hold" rating to a "sell" rating in a report on Saturday, February 21st. BMO Capital Markets reduced their target price on shares of TrueBlue from $8.00 to $6.00 and set an "outperform" rating for the company in a research note on Wednesday, November 5th. Finally, Robert W. Baird set a $5.50 price target on shares of TrueBlue in a research note on Thursday, February 19th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $5.75.
View Our Latest Report on TBI
Institutional Investors Weigh In On TrueBlue
Several large investors have recently added to or reduced their stakes in TBI. XTX Topco Ltd grew its position in TrueBlue by 11.4% during the second quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider's stock worth $117,000 after buying an additional 1,858 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of TrueBlue by 6.5% during the 2nd quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider's stock valued at $288,000 after acquiring an additional 2,646 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of TrueBlue by 21.3% during the fourth quarter. Federated Hermes Inc. now owns 17,685 shares of the business services provider's stock worth $80,000 after purchasing an additional 3,111 shares in the last quarter. Geode Capital Management LLC increased its position in shares of TrueBlue by 0.5% in the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider's stock worth $4,490,000 after purchasing an additional 3,269 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of TrueBlue by 4.6% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 74,456 shares of the business services provider's stock worth $339,000 after purchasing an additional 3,270 shares during the last quarter. Institutional investors own 97.15% of the company's stock.
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.
Featured Stories
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].
