TrueBlue (NYSE:TBI) CFO Purchases $46,500.00 in Stock

TrueBlue, Inc. (NYSE:TBI) CFO Carl Schweihs bought 12,500 shares of the stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $3.72 per share, with a total value of $46,500.00. Following the completion of the transaction, the chief financial officer directly owned 289,069 shares in the company, valued at approximately $1,075,336.68. The trade was a 4.52% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TrueBlue Price Performance

TrueBlue stock opened at $3.98 on Friday. TrueBlue, Inc. has a 52-week low of $3.44 and a 52-week high of $7.78. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average is $4.78 and its 200 day moving average is $5.27. The company has a market cap of $119.64 million, a price-to-earnings ratio of -2.49, a PEG ratio of 3.39 and a beta of 1.49.

TrueBlue (NYSE:TBI) last posted its 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 during the quarter, compared to the consensus estimate of $413.31 million. Sell-side analysts forecast that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TBI. Robert W. Baird set a $5.50 price target on TrueBlue in a report on Thursday, February 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of TrueBlue in a research note on Monday, December 29th. Wall Street Zen cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Zacks Research lowered shares of TrueBlue from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Finally, BMO Capital Markets decreased their price objective 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. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $5.75.

Institutional Trading of TrueBlue

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TrueBlue in the 1st quarter worth approximately $156,000. Envestnet Asset Management Inc. acquired a new stake in shares of TrueBlue in the 2nd quarter worth $83,000. Corton Capital Inc. purchased a new position in TrueBlue during the 2nd quarter worth $76,000. Boston Partners increased its position in TrueBlue by 1,236.2% during the 2nd quarter. Boston Partners now owns 547,528 shares of the business services provider’s stock valued at $3,547,000 after buying an additional 506,550 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in TrueBlue by 0.5% in the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after buying an additional 3,269 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors.

TrueBlue Company Profile

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.