TrueBlue (NYSE:TBI) CFO Carl Schweihs Purchases 12,500 Shares of Stock

TrueBlue, Inc. (NYSE:TBI) CFO Carl Schweihs purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $3.72 per share, with a total value of $46,500.00. Following the completion of the acquisition, the chief financial officer directly owned 289,069 shares of the company’s stock, valued at $1,075,336.68. This represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

TrueBlue Price Performance

Shares of TBI opened at $3.48 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $4.82 and its two-hundred day moving average is $5.29. TrueBlue, Inc. has a twelve month low of $3.44 and a twelve month high of $7.78. The firm has a market capitalization of $104.73 million, a PE ratio of -2.18, a P/E/G ratio of 3.27 and a beta of 1.49.

TrueBlue (NYSE:TBI) last issued its earnings results 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 return on equity of 6.87% and a negative net margin of 2.97%.The business had revenue of $418.18 million for the quarter, compared to analysts’ expectations of $413.31 million. Research analysts anticipate that TrueBlue, Inc. will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On TrueBlue

Several hedge funds have recently bought and sold shares of TBI. Dynamic Technology Lab Private Ltd acquired a new position in shares of TrueBlue in the fourth quarter worth $48,000. Simplex Trading LLC increased its position in TrueBlue by 56.9% during the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock worth $50,000 after purchasing an additional 3,995 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in TrueBlue in the 4th quarter valued at about $53,000. Jain Global LLC acquired a new position in TrueBlue in the 4th quarter valued at about $58,000. Finally, State of Wyoming lifted its holdings in TrueBlue by 601.2% in the 3rd quarter. State of Wyoming now owns 9,558 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 8,195 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Wall Street Analysts Forecast Growth

TBI has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research report on Monday, December 29th. Robert W. Baird set a $5.50 price target on TrueBlue in a research note on Thursday, February 19th. BMO Capital Markets dropped their price objective on TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen cut TrueBlue from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research lowered TrueBlue from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, TrueBlue currently has a consensus rating of “Reduce” and a consensus target price of $5.75.

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.