TrueBlue (NYSE:TBI) Upgraded by StockNews.com to "Hold" Rating

StockNews.com upgraded shares of TrueBlue (NYSE:TBI - Free Report) from a sell rating to a hold rating in a report issued on Thursday morning.

Separately, BMO Capital Markets dropped their target price on shares of TrueBlue from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th.

TrueBlue Price Performance

NYSE:TBI traded down $0.17 during trading hours on Thursday, hitting $8.33. The stock had a trading volume of 154,858 shares, compared to its average volume of 303,019. The company has a 50 day simple moving average of $7.69 and a two-hundred day simple moving average of $8.68. The firm has a market capitalization of $246.23 million, a price-to-earnings ratio of -2.17 and a beta of 1.47. TrueBlue has a one year low of $6.63 and a one year high of $16.14.

TrueBlue (NYSE:TBI - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) 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 company's quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. Equities research analysts anticipate that TrueBlue will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On TrueBlue

Several institutional investors have recently bought and sold shares of TBI. FMR LLC raised its holdings in shares of TrueBlue by 10.0% during the third quarter. FMR LLC now owns 1,742,474 shares of the business services provider's stock worth $13,748,000 after purchasing an additional 158,967 shares during the last quarter. Azarias Capital Management L.P. grew its stake in TrueBlue by 40.8% during the 2nd quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider's stock valued at $12,846,000 after acquiring an additional 361,101 shares in the last quarter. Royce & Associates LP raised its holdings in shares of TrueBlue by 28.5% during the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider's stock worth $8,538,000 after acquiring an additional 239,740 shares during the period. State Street Corp raised its position in shares of TrueBlue by 0.3% during the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider's stock valued at $5,254,000 after buying an additional 1,968 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of TrueBlue by 6.3% in the 2nd quarter. Millennium Management LLC now owns 532,039 shares of the business services provider's stock valued at $5,480,000 after purchasing an additional 31,683 shares during the last quarter. 97.15% of the stock is currently 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.