TrueBlue (NYSE:TBI) Upgraded to Hold at StockNews.com

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

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

TrueBlue Trading Up 2.9 %

Shares of TrueBlue stock traded up $0.24 during trading hours on Tuesday, reaching $8.65. The stock had a trading volume of 218,208 shares, compared to its average volume of 306,368. 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 has a 1 year low of $6.63 and a 1 year high of $16.14. The firm has a 50 day simple moving average of $7.51 and a two-hundred day simple moving average of $8.76.

TrueBlue (NYSE:TBI) last posted its earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $382.36 million during 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%. The company’s revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Sell-side analysts forecast that TrueBlue will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of TrueBlue during the 2nd quarter valued at approximately $35,000. Quantbot Technologies LP bought a new position in TrueBlue in the third quarter worth about $79,000. Quantinno Capital Management LP acquired a new position in TrueBlue in the third quarter valued at approximately $149,000. Algert Global LLC bought a new position in shares of TrueBlue during the second quarter valued at approximately $208,000. Finally, XTX Topco Ltd raised its position in shares of TrueBlue by 19.4% during the 2nd quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after purchasing an additional 3,689 shares during the period. 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.