TrueBlue (NYSE:TBI) Upgraded at StockNews.com

TrueBlue (NYSE:TBI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

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

TrueBlue Stock Performance

Shares of TBI opened at $7.39 on Friday. The company has a 50 day moving average price of $8.02 and a 200-day moving average price of $7.92. TrueBlue has a fifty-two week low of $6.63 and a fifty-two week high of $13.08. The stock has a market capitalization of $218.42 million, a PE ratio of -1.92, a PEG ratio of 3.66 and a beta of 1.42.

Institutional Investors Weigh In On TrueBlue

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP lifted its position in TrueBlue by 28.5% during 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 acquiring an additional 239,740 shares during the last quarter. BNP Paribas Financial Markets lifted its position in TrueBlue by 230.1% during the third quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock valued at $368,000 after acquiring an additional 32,542 shares during the last quarter. Barclays PLC lifted its position in TrueBlue by 95.7% during the third quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock valued at $531,000 after acquiring an additional 32,940 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in TrueBlue by 33.1% during the third quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock valued at $3,049,000 after acquiring an additional 96,072 shares during the last quarter. Finally, State Street Corp lifted its position in TrueBlue by 0.3% during the third quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock valued at $5,254,000 after acquiring an additional 1,968 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.