TrueBlue, Inc. (NYSE:TBI) CFO Purchases $62,500.00 in Stock

TrueBlue, Inc. (NYSE:TBI) CFO Carl Schweihs purchased 10,000 shares of the stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the acquisition, the chief financial officer now owns 166,551 shares of the company’s stock, valued at $1,040,943.75. The trade was a 6.39 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

TrueBlue Trading Up 2.2 %

TBI stock opened at $6.33 on Friday. The company’s 50-day simple moving average is $7.58 and its 200-day simple moving average is $7.67. The company has a quick ratio of 1.85, a current ratio of 1.73 and a debt-to-equity ratio of 0.02. TrueBlue, Inc. has a 52-week low of $5.85 and a 52-week high of $12.65. The firm has a market cap of $187.90 million, a P/E ratio of -1.52, a PEG ratio of 3.01 and a beta of 1.42.

TrueBlue (NYSE:TBI) last posted its earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.14. TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.90%. The business had revenue of $385.95 million for the quarter, compared to analyst estimates of $385.04 million. As a group, equities analysts forecast that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueBlue

Hedge funds have recently modified their holdings of the company. Royce & Associates LP raised its position in shares of TrueBlue by 28.5% during the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after purchasing an additional 239,740 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of TrueBlue by 230.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock worth $368,000 after purchasing an additional 32,542 shares during the last quarter. Barclays PLC raised its position in shares of TrueBlue by 95.7% during the 3rd quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock worth $531,000 after purchasing an additional 32,940 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of TrueBlue by 33.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock worth $3,049,000 after purchasing an additional 96,072 shares during the last quarter. Finally, State Street Corp raised its position in shares of TrueBlue by 0.3% during the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock worth $5,254,000 after purchasing an additional 1,968 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TBI. BMO Capital Markets lowered their price target on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. StockNews.com lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Saturday, February 22nd.

TrueBlue Company Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.