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

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

Separately, BMO Capital Markets cut their price objective on TrueBlue from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th.

TrueBlue Stock Performance

TBI traded down $0.04 on Friday, reaching $5.63. The company had a trading volume of 144,322 shares, compared to its average volume of 270,680. The stock has a 50-day moving average price of $7.44 and a 200-day moving average price of $7.63. TrueBlue has a 1 year low of $5.26 and a 1 year high of $12.66. The company has a quick ratio of 1.85, a current ratio of 1.73 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $167.11 million, a PE ratio of -1.35, a P/E/G ratio of 3.01 and a beta of 1.42.

TrueBlue (NYSE:TBI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.14. The company had revenue of $385.95 million for the quarter, compared to the consensus estimate of $385.04 million. TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.90%. As a group, research analysts forecast that TrueBlue will post 0.15 EPS for the current fiscal year.

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Insider Buying and Selling at TrueBlue

In other TrueBlue news, CFO Carl Schweihs purchased 10,000 shares of TrueBlue stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the acquisition, the chief financial officer now owns 166,551 shares of the company's stock, valued at approximately $1,040,943.75. This trade represents a 6.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Taryn R. Owen acquired 12,735 shares of TrueBlue stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $5.94 per share, with a total value of $75,645.90. Following the acquisition, the chief executive officer now owns 414,932 shares of the company's stock, valued at approximately $2,464,696.08. This trade represents a 3.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TBI. Quantbot Technologies LP bought a new stake in TrueBlue during the third quarter valued at $79,000. SG Americas Securities LLC purchased a new position in shares of TrueBlue during the 4th quarter valued at $108,000. Proficio Capital Partners LLC purchased a new position in TrueBlue in the fourth quarter worth $116,000. MetLife Investment Management LLC lifted its stake in TrueBlue by 23.5% in the fourth quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider's stock worth $133,000 after purchasing an additional 3,028 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of TrueBlue by 24.7% during the fourth quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider's stock valued at $144,000 after acquiring an additional 3,393 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.