Trueblue (NYSE:TBI) announced its earnings results on Monday. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01, Briefing.com reports. Trueblue had a return on equity of 14.66% and a net margin of 2.57%. The business had revenue of $680.40 million during the quarter, compared to analyst estimates of $672.74 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Trueblue updated its Q4 2018 guidance to $0.55-0.62 EPS and its Q4 guidance to $0.55-0.62 EPS.
Shares of NYSE:TBI opened at $23.86 on Wednesday. Trueblue has a 1 year low of $22.34 and a 1 year high of $29.85. The company has a market cap of $985.21 million, a price-to-earnings ratio of 13.71 and a beta of 1.88. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.21.
In related news, EVP Sean A. Ebner sold 1,211 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $28.50, for a total value of $34,513.50. Following the completion of the sale, the executive vice president now owns 13,989 shares in the company, valued at $398,686.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its holdings in shares of Trueblue by 139.9% in the third quarter. Meeder Asset Management Inc. now owns 4,224 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 2,463 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Trueblue in the second quarter valued at approximately $129,000. Tower Research Capital LLC TRC purchased a new stake in shares of Trueblue in the second quarter valued at approximately $134,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Trueblue in the second quarter valued at approximately $215,000. Finally, Signaturefd LLC boosted its holdings in shares of Trueblue by 50.0% in the second quarter. Signaturefd LLC now owns 11,009 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 3,670 shares during the period. Hedge funds and other institutional investors own 92.55% of the company’s stock.
Several brokerages have issued reports on TBI. ValuEngine lowered Trueblue from a “hold” rating to a “sell” rating in a research report on Tuesday. Credit Suisse Group set a $25.00 target price on Trueblue and gave the company a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered Trueblue from a “buy” rating to a “hold” rating in a research report on Saturday, August 4th. TheStreet upgraded Trueblue from a “c” rating to a “b-” rating in a research report on Wednesday, August 1st. Finally, Robert W. Baird restated a “hold” rating and set a $28.00 target price on shares of Trueblue in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $28.25.
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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, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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