Trueblue (NYSE:TBI) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.55-0.62 for the period, compared to the Thomson Reuters consensus estimate of $0.58. The company issued revenue guidance of $642-659 million, compared to the consensus revenue estimate of $657.81 million.Trueblue also updated its Q4 2018 guidance to $0.55-0.62 EPS.
A number of research firms have recently commented on TBI. Credit Suisse Group reduced their target price on shares of Trueblue from $31.00 to $25.00 and set a hold rating on the stock in a research report on Tuesday. Zacks Investment Research cut shares of Trueblue from a buy rating to a hold rating in a research report on Saturday, August 4th. TheStreet raised shares of Trueblue from a c rating to a b- rating in a research report on Wednesday, August 1st. Robert W. Baird reissued a hold rating and set a $28.00 target price on shares of Trueblue in a research report on Tuesday, July 31st. Finally, ValuEngine raised shares of Trueblue from a hold rating to a buy rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Trueblue currently has a consensus rating of Hold and a consensus target price of $28.25.
Shares of NYSE:TBI traded up $0.90 during midday trading on Wednesday, reaching $24.76. The company had a trading volume of 5,575 shares, compared to its average volume of 180,902. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.21. The firm has a market cap of $985.21 million, a PE ratio of 14.24 and a beta of 1.88. Trueblue has a one year low of $22.34 and a one year high of $29.85.
In related news, EVP Sean A. Ebner sold 1,211 shares of Trueblue stock in a transaction on Tuesday, August 14th. The shares were 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 legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.
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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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