TrueBlue (NYSE:TBI) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of TrueBlue (NYSE:TBI) from a hold rating to a sell rating in a report issued on Thursday morning.

Separately, BMO Capital Markets lowered their target price 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

Shares of TBI opened at $7.69 on Thursday. The stock has a 50 day simple moving average of $8.06 and a 200 day simple moving average of $8.07. TrueBlue has a 52-week low of $6.63 and a 52-week high of $13.61. The firm has a market capitalization of $227.32 million, a PE ratio of -2.00, a P/E/G ratio of 3.88 and a beta of 1.42.

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

Institutional Trading of TrueBlue

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