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

TrueBlue, Inc. (NYSE:TBI) CFO Carl Schweihs acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $3.72 per share, for a total transaction of $46,500.00. Following the completion of the purchase, the chief financial officer owned 289,069 shares of the company’s stock, valued at approximately $1,075,336.68. This represents a 4.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TrueBlue Price Performance

TBI traded down $0.18 on Tuesday, reaching $3.48. The company had a trading volume of 392,219 shares, compared to its average volume of 225,875. The company has a market capitalization of $104.73 million, a P/E ratio of -2.18, a PEG ratio of 3.31 and a beta of 1.48. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $4.82 and a 200-day moving average of $5.29. TrueBlue, Inc. has a one year low of $3.44 and a one year high of $7.78.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Wednesday, February 18th. The business services provider reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The company had revenue of $418.18 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that TrueBlue, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TBI shares. Zacks Research downgraded TrueBlue from a “hold” rating to a “strong sell” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of TrueBlue in a research report on Monday, December 29th. Robert W. Baird set a $5.50 price target on shares of TrueBlue in a report on Thursday, February 19th. Wall Street Zen cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, BMO Capital Markets dropped their target price on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $5.75.

Institutional Trading of TrueBlue

A number of hedge funds have recently bought and sold shares of TBI. Boston Partners raised its holdings in shares of TrueBlue by 1,236.2% during the second 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 during the period. Bailard Inc. acquired a new position in TrueBlue in the 2nd quarter worth approximately $996,000. Corton Capital Inc. purchased a new position in TrueBlue during the 2nd quarter worth approximately $76,000. Prudential Financial Inc. raised its stake in TrueBlue by 35.3% during the 2nd quarter. Prudential Financial Inc. now owns 430,329 shares of the business services provider’s stock valued at $2,789,000 after purchasing an additional 112,187 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in TrueBlue during the 2nd quarter valued at $83,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

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.