Sonita Lontoh Sells 2,186 Shares of TrueBlue (NYSE:TBI) Stock

TrueBlue, Inc. (NYSE:TBI) Director Sonita Lontoh sold 2,186 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $6.73, for a total transaction of $14,711.78. Following the sale, the director owned 72,733 shares of the company’s stock, valued at approximately $489,493.09. This represents a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

TrueBlue Stock Performance

NYSE TBI opened at $6.58 on Wednesday. The firm has a 50-day moving average of $5.13 and a 200-day moving average of $4.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market cap of $199.91 million, a PE ratio of -3.69 and a beta of 1.64. TrueBlue, Inc. has a 52-week low of $3.18 and a 52-week high of $7.78.

TrueBlue (NYSE:TBI) last posted its earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.04. The company had revenue of $398.57 million during the quarter, compared to analysts’ expectations of $390.51 million. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%. On average, sell-side analysts anticipate that TrueBlue, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On TrueBlue

A number of hedge funds have recently bought and sold shares of TBI. Dynamic Technology Lab Private Ltd bought a new position in TrueBlue during the first quarter worth about $156,000. Envestnet Asset Management Inc. bought a new position in TrueBlue during the second quarter worth about $83,000. Geode Capital Management LLC increased its position in TrueBlue by 0.5% during the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock worth $4,490,000 after acquiring an additional 3,269 shares during the period. XTX Topco Ltd increased 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 acquiring an additional 1,858 shares during the period. Finally, Hsbc Holdings PLC increased its position in TrueBlue by 6.5% during the second quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock worth $288,000 after acquiring an additional 2,646 shares during the period. 97.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TBI. Zacks Research upgraded shares of TrueBlue from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Wall Street Zen cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Robert W. Baird set a $5.50 target price on shares of TrueBlue in a research note on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, TrueBlue currently has an average rating of “Hold” and an average price target of $5.75.

About TrueBlue

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.