Trueblue (NYSE:TBI) announced its quarterly earnings data on Monday. The business services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05, Briefing.com reports. The company had revenue of $588.59 million for the quarter, compared to analyst estimates of $615.94 million. Trueblue had a return on equity of 15.35% and a net margin of 2.61%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. Trueblue updated its Q3 2019 guidance to $0.61-0.71 EPS and its Q3 guidance to $0.61-0.71 EPS.

Shares of TBI opened at $22.51 on Tuesday. Trueblue has a 52-week low of $20.56 and a 52-week high of $29.85. The firm has a market cap of $909.46 million, a P/E ratio of 9.87 and a beta of 1.62. The business has a fifty day moving average of $21.82. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.07.

In other Trueblue news, CFO Derrek Lane Gafford sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $24.16, for a total value of $966,400.00. Following the completion of the sale, the chief financial officer now directly owns 108,758 shares of the company’s stock, valued at approximately $2,627,593.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James E. Defebaugh sold 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $24.69, for a total value of $246,900.00. The disclosure for this sale can be found here. Insiders sold a total of 65,700 shares of company stock valued at $1,598,578 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Texas Permanent School Fund increased its stake in shares of Trueblue by 2.7% in the 1st quarter. Texas Permanent School Fund now owns 27,210 shares of the business services provider’s stock worth $643,000 after acquiring an additional 717 shares during the last quarter. Royce & Associates LP increased its position in shares of Trueblue by 14.3% during the 1st quarter. Royce & Associates LP now owns 246,394 shares of the business services provider’s stock worth $5,825,000 after purchasing an additional 30,747 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Trueblue during the 1st quarter worth about $419,000. Norges Bank acquired a new stake in shares of Trueblue during the 4th quarter worth about $19,543,000. Finally, Millennium Management LLC increased its position in shares of Trueblue by 720.1% during the 4th quarter. Millennium Management LLC now owns 66,811 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 58,664 shares during the last quarter. 92.94% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the company. Robert W. Baird raised their price objective on Shopify from $208.00 to $269.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. TheStreet upgraded Third Point Reinsurance from a “d+” rating to a “c-” rating in a report on Tuesday, May 14th. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.50.

About Trueblue

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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Earnings History for Trueblue (NYSE:TBI)

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