TrueBlue (NYSE:TBI) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of TrueBlue (NYSE:TBI) from a sell rating to a hold rating in a research report report published on Thursday morning.

Separately, BMO Capital Markets cut their price target on TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

TrueBlue Stock Down 2.0 %

Shares of NYSE:TBI opened at $8.33 on Thursday. The company has a market cap of $246.23 million, a price-to-earnings ratio of -2.17 and a beta of 1.47. The business has a 50 day moving average price of $7.72 and a 200 day moving average price of $8.67. TrueBlue has a twelve month low of $6.63 and a twelve month high of $16.14.

TrueBlue (NYSE:TBI) last released its earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The firm had revenue of $382.36 million during the quarter, compared to analysts’ expectations of $386.07 million. During the same period in the prior year, the company earned $0.16 EPS. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. Analysts anticipate that TrueBlue will post -0.56 EPS for the current year.

Institutional Investors Weigh In On TrueBlue

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in TrueBlue during the second quarter worth $35,000. Quantbot Technologies LP bought a new position in TrueBlue during the 3rd quarter valued at about $79,000. Quantinno Capital Management LP acquired a new position in TrueBlue in the third quarter valued at about $149,000. Algert Global LLC acquired a new stake in shares of TrueBlue during the second quarter worth approximately $208,000. Finally, Walleye Capital LLC bought a new position in shares of TrueBlue in the third quarter valued at approximately $227,000. 97.15% of the stock is currently owned by institutional investors.

About TrueBlue

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.