TrueBlue (NYSE:TBI) Cut to Sell at StockNews.com

TrueBlue (NYSE:TBI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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

TrueBlue Price Performance

TBI opened at $7.35 on Thursday. TrueBlue has a 1-year low of $6.63 and a 1-year high of $13.61. The stock has a market cap of $217.15 million, a P/E ratio of -1.91, a P/E/G ratio of 3.88 and a beta of 1.42. The stock’s 50 day simple moving average is $8.06 and its 200 day simple moving average is $8.07.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Royce & Associates LP grew its holdings in TrueBlue by 28.5% during the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock valued at $8,538,000 after buying an additional 239,740 shares during the last quarter. FMR LLC lifted its position in shares of TrueBlue by 10.0% in the third quarter. FMR LLC now owns 1,742,474 shares of the business services provider’s stock valued at $13,748,000 after acquiring an additional 158,967 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of TrueBlue during the fourth quarter valued at $978,000. GSA Capital Partners LLP increased its position in TrueBlue by 85.2% during the 3rd quarter. GSA Capital Partners LLP now owns 220,892 shares of the business services provider’s stock worth $1,743,000 after purchasing an additional 101,589 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in TrueBlue by 33.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock valued at $3,049,000 after purchasing an additional 96,072 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other 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.