TrueBlue Inc. (NYSE:TBI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.54-0.59 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.66. The company issued revenue guidance of $670-686 million, compared to the consensus revenue estimate of $776.45 million.

A number of analysts recently weighed in on the company. Deutsche Bank AG assumed coverage on TrueBlue in a research report on Wednesday, August 17th. They issued a sell rating and a $20.00 target price for the company. Zacks Investment Research upgraded TrueBlue from a hold rating to a buy rating and set a $25.00 target price for the company in a research report on Saturday, August 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $23.43.

Shares of TrueBlue Inc. (NYSE:TBI) traded down 5.44% during trading on Wednesday, reaching $20.00. The company’s stock had a trading volume of 712,967 shares. The company has a 50 day moving average of $22.16 and a 200-day moving average of $21.39. The stock’s market cap is $823.30 million. TrueBlue Inc. has a 12-month low of $17.35 and a 12-month high of $30.25.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. The company earned $697.10 million during the quarter, compared to analysts’ expectations of $715.69 million. TrueBlue had a positive return on equity of 15.08% and a negative net margin of 0.30%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 EPS. Analysts forecast that TrueBlue Inc. will post $2.18 EPS for the current year.

In related news, EVP James E. Defebaugh sold 5,000 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $23.07, for a total transaction of $115,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new stake in TrueBlue during the second quarter valued at about $192,000. BlackRock Inc. boosted its stake in TrueBlue by 232.8% in the second quarter. BlackRock Inc. now owns 11,280 shares of the company’s stock valued at $214,000 after buying an additional 7,891 shares in the last quarter. AHL Partners LLP acquired a new stake in TrueBlue during the second quarter valued at about $322,000. Barclays PLC boosted its stake in TrueBlue by 23,964.9% in the second quarter. Barclays PLC now owns 18,530 shares of the company’s stock valued at $351,000 after buying an additional 18,453 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new stake in TrueBlue during the second quarter valued at about $358,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

About TrueBlue

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.

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