StockNews.com Upgrades TrueBlue (NYSE:TBI) to "Hold"

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

Separately, BMO Capital Markets lowered their target price 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 Price Performance

Shares of TBI stock traded up $0.11 on Friday, hitting $7.51. The stock had a trading volume of 77,356 shares, compared to its average volume of 111,261. The business has a 50 day moving average of $7.99 and a 200 day moving average of $7.83. The stock has a market cap of $221.94 million, a price-to-earnings ratio of -1.96, a price-to-earnings-growth ratio of 3.66 and a beta of 1.42. TrueBlue has a 12-month low of $6.63 and a 12-month high of $13.08.

Institutional Trading of TrueBlue

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC raised its holdings in shares of TrueBlue by 0.3% in the fourth quarter. Pzena Investment Management LLC now owns 2,788,628 shares of the business services provider's stock valued at $23,424,000 after purchasing an additional 8,511 shares during the last quarter. Invesco Ltd. increased its holdings in TrueBlue by 1.4% during the fourth quarter. Invesco Ltd. now owns 2,032,941 shares of the business services provider's stock worth $17,077,000 after buying an additional 27,515 shares during the last quarter. FMR LLC increased its holdings in 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 buying an additional 158,967 shares during the last quarter. Royce & Associates LP increased its holdings in TrueBlue by 40.8% during the fourth quarter. Royce & Associates LP now owns 1,523,193 shares of the business services provider's stock worth $12,795,000 after buying an additional 441,108 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in TrueBlue by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 678,393 shares of the business services provider's stock worth $5,700,000 after buying an additional 4,499 shares during the last quarter. Hedge funds and other institutional investors 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.