TrueBlue Inc. (NYSE:TBI) posted its earnings results on Wednesday. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. TrueBlue had a negative net margin of 0.30% and a positive return on equity of 15.08%. The firm earned $697.10 million during the quarter, compared to the consensus estimate of $715.69 million. During the same quarter last year, the firm posted $0.54 EPS. The business’s revenue was up 1.9% on a year-over-year basis. TrueBlue updated its Q4 guidance to $0.54-0.59 EPS.
Shares of TrueBlue (NYSE:TBI) traded down 5.44% during trading on Wednesday, hitting $20.00. 711,245 shares of the stock traded hands. TrueBlue has a 1-year low of $17.35 and a 1-year high of $30.25. The firm has a 50-day moving average of $22.16 and a 200-day moving average of $21.39. The firm’s market capitalization is $823.30 million.
In related news, EVP James E. Defebaugh sold 5,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $23.07, for a total transaction of $115,350.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of TrueBlue by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,296,381 shares of the company’s stock worth $62,368,000 after buying an additional 98,585 shares in the last quarter. BlackRock Investment Management LLC raised its stake in shares of TrueBlue by 16.2% in the second quarter. BlackRock Investment Management LLC now owns 191,076 shares of the company’s stock worth $3,615,000 after buying an additional 26,591 shares in the last quarter. BlackRock Inc. raised its stake in shares of TrueBlue by 232.8% in the second quarter. BlackRock Inc. now owns 11,280 shares of the company’s stock worth $214,000 after buying an additional 7,891 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of TrueBlue by 3.0% in the second quarter. BlackRock Fund Advisors now owns 2,659,280 shares of the company’s stock worth $50,314,000 after buying an additional 77,741 shares in the last quarter. Finally, South Dakota Investment Council bought a new stake in shares of TrueBlue during the second quarter worth $1,008,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.
Several research analysts recently weighed in on the stock. Deutsche Bank AG assumed coverage on shares of TrueBlue in a research report on Wednesday, August 17th. They issued a “sell” rating and a $20.00 price objective for the company. Zacks Investment Research upgraded shares of TrueBlue from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Saturday, August 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $23.43.
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.
Receive News & Ratings for TrueBlue Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueBlue Inc. and related companies with MarketBeat.com's FREE daily email newsletter.