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

TrueBlue (NYSE:TBI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Sunday.

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

TrueBlue Price Performance

TBI opened at $5.61 on Friday. The business has a fifty day moving average of $7.53 and a 200 day moving average of $7.66. The stock has a market cap of $166.66 million, a P/E ratio of -1.35, a PEG ratio of 3.01 and a beta of 1.42. The company has a quick ratio of 1.85, a current ratio of 1.73 and a debt-to-equity ratio of 0.02. TrueBlue has a 52-week low of $5.59 and a 52-week high of $12.65.

TrueBlue (NYSE:TBI) last issued its earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.14. The firm had revenue of $385.95 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that TrueBlue will post 0.15 EPS for the current year.

Insider Activity

In other TrueBlue news, CEO Taryn R. Owen purchased 12,735 shares of the stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average price of $5.94 per share, with a total value of $75,645.90. Following the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carl Schweihs acquired 10,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $62,500.00. Following the completion of the purchase, the chief financial officer now owns 166,551 shares of the company’s stock, valued at approximately $1,040,943.75. This represents a 6.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.

Institutional Trading of TrueBlue

Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP raised its position in shares of TrueBlue by 85.2% in the 3rd quarter. GSA Capital Partners LLP now owns 220,892 shares of the business services provider’s stock worth $1,743,000 after acquiring an additional 101,589 shares in the last quarter. Royce & Associates LP grew its stake in TrueBlue by 28.5% in the third quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock valued at $8,538,000 after purchasing an additional 239,740 shares during the last quarter. Empowered Funds LLC raised its holdings in TrueBlue by 34.2% in the third quarter. Empowered Funds LLC now owns 163,742 shares of the business services provider’s stock worth $1,292,000 after purchasing an additional 41,754 shares in the last quarter. FMR LLC lifted its position 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 valued at $13,748,000 after buying an additional 158,967 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of TrueBlue in the 3rd quarter valued at about $79,000. 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.