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

TrueBlue, Inc. (NYSE:TBI) CFO Carl Schweihs purchased 12,500 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were bought at an average price of $3.72 per share, with a total value of $46,500.00. Following the purchase, the chief financial officer owned 289,069 shares in the company, valued at $1,075,336.68. This represents a 4.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

TrueBlue Stock Performance

Shares of NYSE TBI opened at $3.79 on Thursday. The business’s 50-day simple moving average is $4.80 and its 200-day simple moving average is $5.28. 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, Inc. has a 52 week low of $3.44 and a 52 week high of $7.78. The firm has a market cap of $113.93 million, a price-to-earnings ratio of -2.37, a P/E/G ratio of 3.07 and a beta of 1.49.

TrueBlue (NYSE:TBI) last announced 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 company had revenue of $418.18 million for the quarter, compared to the consensus estimate of $413.31 million. As a group, equities research analysts expect that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TBI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of TrueBlue in a report on Monday, December 29th. Wall Street Zen lowered TrueBlue from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. BMO Capital Markets cut their price objective on 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 target price on TrueBlue in a report on Thursday, February 19th. Finally, Zacks Research downgraded TrueBlue from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.75.

Institutional Trading of TrueBlue

Hedge funds have recently modified their holdings of the company. Invenomic Capital Management LP grew its holdings in shares of TrueBlue by 60.5% during the 4th quarter. Invenomic Capital Management LP now owns 442,225 shares of the business services provider’s stock worth $2,012,000 after purchasing an additional 166,660 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in TrueBlue during the fourth quarter worth $53,000. Bridgeway Capital Management LLC increased its holdings in TrueBlue by 25.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 122,100 shares of the business services provider’s stock valued at $556,000 after buying an additional 25,000 shares during the period. Jain Global LLC acquired a new position in shares of TrueBlue in the 4th quarter valued at $58,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of TrueBlue by 12.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,959 shares of the business services provider’s stock valued at $260,000 after buying an additional 6,400 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

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.