Taryn Owen Purchases 20,400 Shares of TrueBlue (NYSE:TBI) Stock

TrueBlue, Inc. (NYSE:TBI) CEO Taryn Owen acquired 20,400 shares of TrueBlue stock in a transaction dated Tuesday, February 24th. The shares were bought at an average cost of $3.79 per share, with a total value of $77,316.00. Following the transaction, the chief executive officer owned 791,807 shares in the company, valued at approximately $3,000,948.53. This trade represents a 2.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

TrueBlue Stock Up 7.2%

TrueBlue stock opened at $4.24 on Friday. The company has a market capitalization of $127.30 million, a PE ratio of -2.65, a PEG ratio of 3.53 and a beta of 1.49. TrueBlue, Inc. has a 12-month low of $3.44 and a 12-month high of $7.78. The firm’s fifty day moving average is $4.77 and its 200 day moving average is $5.26. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.24.

TrueBlue (NYSE:TBI) last posted its quarterly earnings results on Wednesday, February 18th. The business services provider reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.17). TrueBlue had a negative net margin of 2.97% and a negative return on equity of 6.87%. The company had revenue of $418.18 million during the quarter, compared to the consensus estimate of $413.31 million. As a group, sell-side analysts predict that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueBlue

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming lifted its stake in TrueBlue by 601.2% during the 3rd quarter. State of Wyoming now owns 9,558 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 8,195 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TrueBlue in the fourth quarter valued at about $48,000. Federated Hermes Inc. bought a new position in shares of TrueBlue during the second quarter valued at about $69,000. Simplex Trading LLC boosted its holdings in TrueBlue by 56.9% during the fourth 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 during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in TrueBlue in the 4th quarter worth about $53,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TBI. Zacks Research lowered TrueBlue from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueBlue in a research report on Monday, December 29th. BMO Capital Markets reduced their price target on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Robert W. Baird set a $5.50 price target on shares of TrueBlue in a research note on Thursday, February 19th. Finally, Wall Street Zen downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” 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.