TrueBlue (NYSE:TBI) Upgraded at StockNews.com

TrueBlue (NYSE:TBI - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Friday.

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

TrueBlue Trading Down 3.7 %

Shares of TBI stock traded down $0.30 on Friday, hitting $7.87. 121,754 shares of the stock were exchanged, compared to its average volume of 301,731. The firm has a market capitalization of $232.63 million, a P/E ratio of -2.05 and a beta of 1.47. TrueBlue has a fifty-two week low of $6.63 and a fifty-two week high of $15.61. The business has a 50-day moving average of $7.77 and a 200 day moving average of $8.55.

TrueBlue (NYSE:TBI - Get Free Report) last released its earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. The firm had revenue of $382.36 million for the quarter, compared to analysts' expectations of $386.07 million. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The business's quarterly revenue was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, research analysts forecast that TrueBlue will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueBlue

A number of large investors have recently added to or reduced their stakes in TBI. nVerses Capital LLC bought a new position in TrueBlue in the 2nd quarter valued at about $35,000. Quantbot Technologies LP acquired a new position in shares of TrueBlue in the third quarter valued at approximately $79,000. Quantinno Capital Management LP bought a new position in shares of TrueBlue during the third quarter worth approximately $149,000. Algert Global LLC acquired a new stake in TrueBlue during the 2nd quarter worth approximately $208,000. Finally, Walleye Capital LLC bought a new stake in TrueBlue in the 3rd quarter valued at $227,000. 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.