TrueBlue (NYSE:TBI) CFO Carl Schweihs Buys 12,500 Shares

TrueBlue, Inc. (NYSE:TBI) CFO Carl Schweihs acquired 12,500 shares of the stock in a transaction on Monday, February 23rd. The stock was purchased at an average cost of $3.72 per share, with a total value of $46,500.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website.

TrueBlue Stock Down 4.8%

Shares of TBI stock traded down $0.18 on Tuesday, hitting $3.48. The stock had a trading volume of 392,219 shares, compared to its average volume of 225,875. The stock’s 50 day moving average is $4.82 and its 200-day moving average is $5.29. The firm has a market capitalization of $104.73 million, a price-to-earnings ratio of -2.18, a P/E/G ratio of 3.31 and a beta of 1.48. TrueBlue, Inc. has a 52-week low of $3.44 and a 52-week high of $7.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.15 and a current ratio of 2.15.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of TrueBlue during the first quarter valued at approximately $156,000. Envestnet Asset Management Inc. bought a new position in TrueBlue in the 2nd quarter worth approximately $83,000. Corton Capital Inc. acquired a new stake in TrueBlue in the 2nd quarter valued at approximately $76,000. Boston Partners raised its stake 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 acquiring an additional 506,550 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in TrueBlue by 0.5% during the 2nd 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. Institutional investors and hedge funds own 97.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research note on Monday, December 29th. Robert W. Baird set a $5.50 price objective on TrueBlue in a research note on Thursday, February 19th. Zacks Research lowered TrueBlue from a “hold” rating to a “strong sell” rating in a research report on Friday. Wall Street Zen downgraded TrueBlue from a “hold” rating to a “sell” rating in a report on Saturday. Finally, BMO Capital Markets reduced their price objective on TrueBlue from $8.00 to $6.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target 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.