Deutsche Bank Initiates Coverage on Trueblue Inc to Sell

Deutsche Bank Initiates Coverage on Trueblue Inc(NYSE:TBI). The shares have been rated Sell. The rating by Deutsche Bank was issued on Aug 18, 2016.

Trueblue Inc (TBI) made into the market gainers list on Mondays trading session with the shares advancing 0.73% or 0.16 points. Due to strong positive momentum, the stock ended at $22.18, which is also near the day’s high of $22.61. The stock began the session at $22.01 and the volume stood at 2,65,372 shares. The 52-week high of the shares is $30.25 and the 52 week low is $17.35. The company has a current market capitalization of $942 M and it has 4,24,74,537 shares in outstanding.

Trueblue Inc(TBI) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $672.61M. Analysts had an estimated revenue of $675.33M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, Wayne W Larkin (EVP & COO Staffing Solutions) sold 13,000 shares at $25.00 per share price.Also, 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.

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