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 sent to investors on Tuesday.

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

TrueBlue Stock Performance

Shares of TBI opened at $8.65 on Tuesday. TrueBlue has a one year low of $6.63 and a one year high of $16.14. The stock’s fifty day moving average is $7.51 and its 200-day moving average is $8.76. The firm has a market capitalization of $255.69 million, a price-to-earnings ratio of -2.25 and a beta of 1.48.

TrueBlue (NYSE:TBI) last released 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 company had revenue of $382.36 million for the quarter, compared to the consensus estimate of $386.07 million. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. TrueBlue’s 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. Analysts forecast that TrueBlue will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On TrueBlue

Large investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of TrueBlue in the 2nd quarter worth approximately $35,000. Quantbot Technologies LP acquired a new position in TrueBlue in the third quarter worth approximately $79,000. Quantinno Capital Management LP bought a new position in shares of TrueBlue in the third quarter valued at $149,000. Algert Global LLC acquired a new stake in shares of TrueBlue during the 2nd quarter valued at $208,000. Finally, Walleye Capital LLC bought a new stake in shares of TrueBlue during the 3rd quarter worth $227,000. Institutional investors own 97.15% of the company’s stock.

TrueBlue Company Profile

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.