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

StockNews.com upgraded shares of TrueBlue (NYSE:TBI) from a sell rating to a hold rating in a report issued on Friday.

Separately, BMO Capital Markets lowered their target price on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th.

TrueBlue Trading Down 3.7 %

TBI stock opened at $7.87 on Friday. The firm has a market cap of $232.63 million, a PE ratio of -2.05 and a beta of 1.47. TrueBlue has a 1 year low of $6.63 and a 1 year high of $15.61. The company has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $8.55.

TrueBlue (NYSE:TBI) last posted its earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The firm had revenue of $382.36 million during the quarter, compared to analyst estimates of $386.07 million. During the same period in the previous year, the company earned $0.16 EPS. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, analysts forecast that TrueBlue will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in TrueBlue during the second quarter worth $35,000. Quantbot Technologies LP acquired a new stake in TrueBlue in the 3rd quarter worth $79,000. Quantinno Capital Management LP bought a new position in shares of TrueBlue during the 3rd quarter worth about $149,000. Algert Global LLC acquired a new position in shares of TrueBlue during the second quarter valued at about $208,000. Finally, Walleye Capital LLC bought a new stake in shares of TrueBlue in the third quarter valued at about $227,000. 97.15% of the stock is 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.