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

TrueBlue (NYSE:TBI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Separately, BMO Capital Markets reduced their price objective 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 TrueBlue stock opened at $7.35 on Thursday. The company has a market capitalization of $217.15 million, a P/E ratio of -1.91, a PEG ratio of 3.88 and a beta of 1.42. TrueBlue has a 1 year low of $6.63 and a 1 year high of $13.61. The company’s fifty day moving average is $8.06 and its two-hundred day moving average is $8.07.

Institutional Trading of TrueBlue

Several hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in TrueBlue during the third quarter worth about $79,000. SG Americas Securities LLC acquired a new position in TrueBlue during the 4th quarter worth approximately $108,000. Proficio Capital Partners LLC purchased a new position in shares of TrueBlue during the 4th quarter worth approximately $116,000. Quantinno Capital Management LP acquired a new stake in shares of TrueBlue in the 3rd quarter valued at approximately $149,000. Finally, Algert Global LLC purchased a new stake in shares of TrueBlue in the second quarter valued at approximately $208,000. 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.