TrueBlue (NYSE:TBI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of TrueBlue (NYSE:TBI) from a hold rating to a sell rating in a research report released on Saturday morning.

Separately, BMO Capital Markets lowered 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 NYSE:TBI opened at $6.14 on Friday. The stock has a market capitalization of $182.26 million, a P/E ratio of -1.47, a P/E/G ratio of 3.01 and a beta of 1.42. TrueBlue has a 1-year low of $6.05 and a 1-year high of $12.65. The company has a current ratio of 1.73, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $7.82 and a two-hundred day moving average price of $7.73.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.14. The firm had revenue of $385.95 million during the quarter, compared to analysts’ expectations of $385.04 million. TrueBlue had a negative return on equity of 3.90% and a negative net margin of 8.02%. Equities analysts predict that TrueBlue will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On TrueBlue

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of TrueBlue by 3.5% in the 4th quarter. BNP Paribas Financial Markets now owns 48,329 shares of the business services provider’s stock valued at $406,000 after purchasing an additional 1,642 shares during the period. State Street Corp grew its position in shares of TrueBlue by 0.3% in the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock valued at $5,254,000 after purchasing an additional 1,968 shares during the period. MetLife Investment Management LLC grew its position in shares of TrueBlue by 23.5% in the 4th quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 3,028 shares during the period. State of Wyoming grew its position in shares of TrueBlue by 17.4% in the 4th quarter. State of Wyoming now owns 21,192 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 3,134 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of TrueBlue by 24.7% in the 4th quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 3,393 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.

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.