TrueBlue (NYSE:TBI) Upgraded at StockNews.com

StockNews.com upgraded shares of TrueBlue (NYSE:TBI) from a sell rating to a hold rating in a research report released on Sunday morning.

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

TrueBlue Trading Up 1.2 %

Shares of TBI stock opened at $5.70 on Friday. The stock has a market capitalization of $169.19 million, a PE ratio of -1.37, a P/E/G ratio of 3.01 and a beta of 1.42. TrueBlue has a 1-year low of $5.53 and a 1-year high of $12.66. The business has a 50-day moving average of $7.49 and a 200 day moving average of $7.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.73 and a quick ratio of 1.85.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.14. TrueBlue had a negative return on equity of 3.90% and a negative net margin of 8.02%. The business had revenue of $385.95 million during the quarter, compared to analysts’ expectations of $385.04 million. As a group, sell-side analysts anticipate that TrueBlue will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Carl Schweihs acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was bought at an average price of $6.25 per share, with a total value of $62,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 166,551 shares of the company’s stock, valued at approximately $1,040,943.75. The trade was a 6.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Taryn R. Owen purchased 12,735 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $5.94 per share, with a total value of $75,645.90. Following the acquisition, the chief executive officer now directly owns 414,932 shares of the company’s stock, valued at $2,464,696.08. This trade represents a 3.17 % increase in their position. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TrueBlue

A number of hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in TrueBlue during the third quarter valued at approximately $79,000. SG Americas Securities LLC purchased a new stake in shares of TrueBlue during the 4th quarter valued at $108,000. Proficio Capital Partners LLC purchased a new stake in shares of TrueBlue during the 4th quarter valued at $116,000. MetLife Investment Management LLC raised its stake in TrueBlue by 23.5% in the 4th quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider’s stock worth $133,000 after acquiring an additional 3,028 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in TrueBlue by 24.7% in the 4th quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider’s stock worth $144,000 after acquiring an additional 3,393 shares during the last quarter. 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.