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

TrueBlue (NYSE:TBI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

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

TrueBlue Stock Up 2.4 %

TBI stock opened at $8.17 on Friday. The business’s 50-day simple moving average is $7.76 and its 200 day simple moving average is $8.58. The company has a market cap of $241.50 million, a PE ratio of -2.13 and a beta of 1.47. TrueBlue has a twelve month low of $6.63 and a twelve month high of $15.76.

TrueBlue (NYSE:TBI) last issued its earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. The firm had revenue of $382.36 million during 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%. TrueBlue’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. On average, equities research analysts anticipate that TrueBlue will post -0.56 EPS for the current year.

Institutional Investors Weigh In On TrueBlue

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

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.