Headlines about TrueBlue (NYSE:TBI) have been trending somewhat positive on Friday, Accern Sentiment reports. The research firm identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. TrueBlue earned a daily sentiment score of 0.14 on Accern’s scale. Accern also gave press coverage about the business services provider an impact score of 46.5643736241411 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
TrueBlue (NYSE TBI) traded up $0.60 during midday trading on Friday, hitting $28.10. The stock had a trading volume of 270,100 shares, compared to its average volume of 294,950. The firm has a market capitalization of $1,139.51, a price-to-earnings ratio of 15.39 and a beta of 2.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.77. TrueBlue has a 52 week low of $19.30 and a 52 week high of $28.70.
TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. TrueBlue had a return on equity of 14.05% and a net margin of 2.22%. The company had revenue of $660.78 million for the quarter, compared to analyst estimates of $651.91 million. During the same quarter last year, the firm posted $0.70 earnings per share. TrueBlue’s revenue was down 5.2% compared to the same quarter last year. analysts anticipate that TrueBlue will post 1.7 EPS for the current fiscal year.
TrueBlue announced that its Board of Directors has initiated a share buyback plan on Monday, October 30th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of equities research analysts have recently commented on TBI shares. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. ValuEngine raised TrueBlue from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Robert W. Baird reaffirmed a “hold” rating and set a $25.00 price target on shares of TrueBlue in a research report on Friday, October 6th. Zacks Investment Research raised TrueBlue from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $23.00 price target (down previously from $26.00) on shares of TrueBlue in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.00.
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In related news, EVP James E. Defebaugh sold 7,500 shares of TrueBlue stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $28.16, for a total value of $211,200.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Wayne W. Larkin sold 10,000 shares of TrueBlue stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $20.38, for a total value of $203,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 53,485 shares of company stock worth $1,343,071. 2.00% of the stock is owned by insiders.
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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