TrueBlue Inc. (TBI) Shares Down 2.8%
TrueBlue Inc. (NYSE:TBI) was down 2.8% on Thursday . The company traded as low as $22.21 and last traded at $22.31, with a volume of 196,329 shares changing hands. The stock had previously closed at $22.95.
A number of equities research analysts have recently weighed in on TBI shares. Zacks Investment Research raised TrueBlue from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Saturday, July 23rd. Deutsche Bank AG started coverage on TrueBlue in a research report on Wednesday. They set a “sell” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. TrueBlue presently has a consensus rating of “Hold” and a consensus price target of $23.43.
The stock’s market cap is $896.99 million. The firm has a 50-day moving average price of $21.56 and a 200-day moving average price of $21.76.
TrueBlue (NYSE:TBI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. The firm earned $673 million during the quarter, compared to the consensus estimate of $675.33 million. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Analysts expect that TrueBlue Inc. will post $2.18 earnings per share for the current fiscal year.
In other TrueBlue news, EVP James E. Defebaugh sold 5,000 shares of TrueBlue stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $23.07, for a total value of $115,350.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
A number of hedge funds have recently added to or reduced their stakes in TBI. Rhumbline Advisers increased its stake in TrueBlue by 6.9% in the fourth quarter. Rhumbline Advisers now owns 55,736 shares of the company’s stock worth $1,436,000 after buying an additional 3,575 shares during the last quarter. Wells Fargo & Company MN increased its stake in TrueBlue by 24.0% in the fourth quarter. Wells Fargo & Company MN now owns 891,320 shares of the company’s stock worth $22,961,000 after buying an additional 172,553 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in TrueBlue during the fourth quarter worth about $2,964,000. Jennison Associates LLC increased its stake in TrueBlue by 7.6% in the fourth quarter. Jennison Associates LLC now owns 1,103,614 shares of the company’s stock worth $28,429,000 after buying an additional 78,092 shares during the last quarter. Finally, US Bancorp DE increased its stake in TrueBlue by 5.3% in the fourth quarter. US Bancorp DE now owns 51,287 shares of the company’s stock worth $1,320,000 after buying an additional 2,593 shares during the last quarter.
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.
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