TrueBlue (TBI) Soars 5.8%: Is Further Upside Left in the Stock?

TrueBlue (TBI) shares rallied 5.8% in the last trading session to close at $6.04. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.9% loss over the past four weeks.The stock is benefiting from TrueBlue’s strategic execution and rising customer demand, driving strong growth and profitability expansion,This blue-collar temporary staffing company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of -866.7%. Revenues are expected to be $361.12 million, down 10.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For TrueBlue, the consensus EPS estimate for the quarter has been revised 2200% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>TrueBlue belongs to the Zacks Staffing Firms industry. Another stock from the same industry, Resources Connection (RGP), closed the last trading session 0.9% higher at $6.83. Over the past month, RGP has returned -9.9%.For Resources Connection, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.10. This represents a change of -158.8% from what the company reported a year ago. Resources Connection currently has a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TrueBlue, Inc. (TBI): Free Stock Analysis Report Resources Connection, Inc. (RGP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks