TrueBlue (NYSE:TBI) Upgraded at StockNews.com

StockNews.com upgraded shares of TrueBlue (NYSE:TBI) from a sell rating to a hold rating in a research note released on Tuesday.

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 note on Tuesday, November 5th.

TrueBlue Stock Performance

TrueBlue stock opened at $8.83 on Tuesday. The business’s fifty day moving average is $7.58 and its two-hundred day moving average is $8.74. The firm has a market cap of $261.01 million, a P/E ratio of -2.30 and a beta of 1.47. TrueBlue has a 52 week low of $6.63 and a 52 week high of $16.14.

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

Institutional Investors Weigh In On TrueBlue

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

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.