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

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

Separately, BMO Capital Markets lowered their price objective 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 0.1 %

NYSE:TBI opened at $8.34 on Thursday. The company has a market cap of $246.52 million, a PE ratio of -2.17 and a beta of 1.47. The business’s 50 day moving average is $7.74 and its two-hundred day moving average is $8.64. TrueBlue has a 52 week low of $6.63 and a 52 week high of $15.93.

TrueBlue (NYSE:TBI) last announced 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. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The firm had revenue of $382.36 million for the quarter, compared to analysts’ expectations of $386.07 million. During the same period last year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, sell-side analysts expect that TrueBlue will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On TrueBlue

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its holdings 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 worth $5,254,000 after acquiring an additional 1,968 shares during the period. Bank of New York Mellon Corp increased its stake in shares of TrueBlue by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 130,200 shares of the business services provider’s stock valued at $1,341,000 after purchasing an additional 2,905 shares during the period. nVerses Capital LLC bought a new stake in shares of TrueBlue during the second quarter valued at approximately $35,000. XTX Topco Ltd boosted its position in shares of TrueBlue by 19.4% during the second quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider’s stock worth $234,000 after buying an additional 3,689 shares during the period. Finally, Sei Investments Co. grew its holdings in TrueBlue by 22.5% in the 2nd quarter. Sei Investments Co. now owns 40,329 shares of the business services provider’s stock worth $415,000 after buying an additional 7,400 shares in the last quarter. Institutional investors and hedge funds 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.