TrueBlue (NYSE:TBI) Rating Increased to Hold at StockNews.com

TrueBlue (NYSE:TBI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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

TrueBlue Trading Up 0.1 %

TBI opened at $8.34 on Thursday. TrueBlue has a 12 month low of $6.63 and a 12 month high of $15.93. The business’s 50-day moving average price is $7.74 and its 200-day moving average price is $8.66. The company has a market cap of $246.52 million, a P/E ratio of -2.17 and a beta of 1.47.

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

Institutional Investors Weigh In On TrueBlue

A number of large investors have recently made changes to their positions in TBI. nVerses Capital LLC bought a new position in shares of TrueBlue during the second quarter valued at approximately $35,000. Quantbot Technologies LP bought a new stake in TrueBlue in the third quarter valued at $79,000. Quantinno Capital Management LP purchased a new position in TrueBlue during the 3rd quarter valued at $149,000. Algert Global LLC bought a new position in TrueBlue in the 2nd quarter worth $208,000. Finally, XTX Topco Ltd raised its holdings in TrueBlue by 19.4% in the 2nd quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after purchasing an additional 3,689 shares in the last quarter. 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.