Somewhat Favorable Media Coverage Somewhat Unlikely to Affect TrueBlue (NYSE:TBI) Stock Price
News stories about TrueBlue (NYSE:TBI) have been trending somewhat positive this week, according to Accern Sentiment. Accern rates the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. TrueBlue earned a news impact score of 0.14 on Accern’s scale. Accern also gave media coverage about the business services provider an impact score of 46.6242104138477 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
TrueBlue (NYSE TBI) opened at 19.85 on Friday. TrueBlue has a 12-month low of $16.50 and a 12-month high of $28.70. The stock has a market capitalization of $825.32 million, a price-to-earnings ratio of 14.02 and a beta of 2.34. The firm has a 50-day moving average of $25.10 and a 200-day moving average of $26.03.
TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. The firm had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. TrueBlue’s revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. Equities research analysts forecast that TrueBlue will post $1.69 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on TBI shares. BMO Capital Markets reissued a “sell” rating and issued a $25.00 price objective on shares of TrueBlue in a research note on Wednesday, May 3rd. Zacks Investment Research cut shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub cut shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, TheStreet raised shares of TrueBlue from a “c” rating to a “b” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.25.
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In related news, CFO Derrek Lane Gafford sold 20,000 shares of TrueBlue stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $27.75, for a total value of $555,000.00. Following the transaction, the chief financial officer now owns 91,859 shares of the company’s stock, valued at approximately $2,549,087.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph P. Sambataro, Jr. sold 25,000 shares of TrueBlue stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $28.32, for a total value of $708,000.00. Following the completion of the transaction, the director now directly owns 73,581 shares in the company, valued at approximately $2,083,813.92. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
TrueBlue Company Profile
TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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