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

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

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

TrueBlue Stock Up 0.6 %

TrueBlue stock opened at $6.37 on Friday. The company’s 50-day moving average price is $7.87 and its 200-day moving average price is $7.76. TrueBlue has a twelve month low of $6.05 and a twelve month high of $12.88. The company has a market cap of $188.15 million, a PE ratio of -1.53, a price-to-earnings-growth ratio of 3.55 and a beta of 1.42.

TrueBlue (NYSE:TBI) last posted its earnings results on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. The firm had revenue of $385.95 million for the quarter, compared to the consensus estimate of $385.04 million. TrueBlue had a negative net margin of 8.02% and a negative return on equity of 3.75%. As a group, sell-side analysts expect that TrueBlue will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TrueBlue

Several hedge funds have recently added to or reduced their stakes in TBI. Royce & Associates LP boosted its position in TrueBlue by 40.8% in the 4th quarter. Royce & Associates LP now owns 1,523,193 shares of the business services provider’s stock valued at $12,795,000 after buying an additional 441,108 shares during the period. Nuveen Asset Management LLC boosted its position in TrueBlue by 262.7% in the 4th quarter. Nuveen Asset Management LLC now owns 561,093 shares of the business services provider’s stock valued at $4,713,000 after buying an additional 406,405 shares during the period. RBF Capital LLC boosted its position in TrueBlue by 852.8% in the 4th quarter. RBF Capital LLC now owns 381,136 shares of the business services provider’s stock valued at $3,202,000 after buying an additional 341,136 shares during the period. Advantage Alpha Capital Partners LP purchased a new stake in TrueBlue in the 4th quarter valued at about $1,980,000. Finally, FMR LLC boosted its position in TrueBlue by 10.0% in the 3rd 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 period. 97.15% of the stock is currently owned by institutional investors.

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.