TrueBlue (NYSE:TBI) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of TrueBlue (NYSE:TBI) from a hold rating to a sell rating in a research note released on Thursday.

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 note on Tuesday, November 5th.

TrueBlue Stock Performance

NYSE:TBI opened at $7.69 on Thursday. The company has a market cap of $227.32 million, a price-to-earnings ratio of -2.00, a P/E/G ratio of 3.88 and a beta of 1.42. The stock’s fifty day moving average price is $8.06 and its two-hundred day moving average price is $8.07. TrueBlue has a 52-week low of $6.63 and a 52-week high of $13.61.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $382.36 million for the quarter, compared to analyst estimates of $386.07 million. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, equities analysts predict that TrueBlue will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TBI. Quantbot Technologies LP acquired a new position in TrueBlue in the third quarter valued at about $79,000. SG Americas Securities LLC acquired a new stake in shares of TrueBlue in the 4th quarter valued at approximately $108,000. Proficio Capital Partners LLC bought a new position in TrueBlue during the 4th quarter worth approximately $116,000. Quantinno Capital Management LP acquired a new position in TrueBlue during the third quarter valued at approximately $149,000. Finally, Algert Global LLC bought a new stake in TrueBlue in the second quarter valued at approximately $208,000. 97.15% of the stock is currently owned by institutional investors.

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.