TrueBlue (TBI) Moves 7.9% Higher: Will This Strength Last?
TrueBlue (TBI) shares ended the last trading session 7.9% higher at $9.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13.7% loss over the past four weeks.
The stock recorded this price increase as the company benefits from growth across skilled verticals and a return to growth in PeopleReady’s on-demand business. Partnerships, cross-selling strategy and AI-backed digital tools are other factors that support TrueBlue’s growth and scalability.
This blue-collar temporary staffing company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +600%. Revenues are expected to be $464.81 million, up 7.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TrueBlue, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TBI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TrueBlue is a member of the Zacks Staffing Firms industry. One other stock in the same industry, Kforce (KFRC), finished the last trading session 0.8% higher at $51.99. KFRC has returned -10.6% over the past month.
For Kforce, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.75. This represents a change of +19.1% from what the company reported a year ago. Kforce currently has a Zacks Rank of #2 (Buy).
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpTrueBlue, Inc. (TBI) : Free Stock Analysis Report
Kforce, Inc. (KFRC) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
