Trueblue Inc (TBI) is Initiated by Deutsche Bank to Sell, Price Target at $20

Trueblue Inc (TBI) was Initiated by Deutsche Bank to “Sell” and the brokerage firm has set the Price Target at $20. Deutsche Bank advised their investors in a research report released on Aug 18, 2016.

On the company’s financial health, Trueblue Inc reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.43. The company had revenue of $672.60 million for the quarter, compared to analysts expectations of $676.21 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Trueblue Inc closed down -0.24 points or -1.03% at $22.95 with 4,32,109 shares getting traded on Wednesday. Post opening the session at $23.16, the shares hit an intraday low of $22.81 and an intraday high of $23.29 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 7, 2016, Wayne W Larkin (EVP & COO Staffing Solutions) sold 13,000 shares at $25.00 per share price. According to the SEC, on Dec 8, 2015, Thomas Mcchesney (director) sold 3,000 shares at $29.00 per share price. On Nov 13, 2015, Kimberly A. Cannon (EVP, Human Resources) sold 10,000 shares at $29.01 per share price, according to the Form-4 filing with the securities and exchange commission.

TrueBlue Inc. (TrueBlue) is a provider of specialized workforce solutions helping clients improve growth and performance. The Company provides staffing recruitment process outsourcing and managed service provider solutions. The Company operates through two reportable segments Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing together with outsourced service offerings in recruitment process outsourcing (RPO) and managed services provider (MSP) solutions. On-premise staffing is sourcing screening recruiting and management of the contingent labor workforce at a customer’s facility. RPO is high-volume sourcing screening and recruiting of permanent employees for all industries and jobs. MSP solutions manage its customer’s overall contingent labor program including vendor selection vendor performance management vendor compliance monitoring and risk management and reducing vendor costs.

Trueblue Inc

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Trueblue Inc - Is it time to Sell?

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