TrueBlue (NYSE:TBI) Upgraded at StockNews.com

TrueBlue (NYSE:TBI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

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

TrueBlue Trading Down 10.7 %

Shares of NYSE:TBI opened at $5.61 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.73 and a quick ratio of 1.85. The firm has a market capitalization of $166.66 million, a P/E ratio of -1.35, a P/E/G ratio of 3.01 and a beta of 1.42. The business’s 50-day moving average is $7.53 and its 200 day moving average is $7.66. TrueBlue has a 1 year low of $5.59 and a 1 year high of $12.65.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Wednesday, February 19th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate 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 3.90%. On average, research analysts predict that TrueBlue will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at TrueBlue

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

Institutional Trading of TrueBlue

A number of hedge funds have recently modified their holdings of TBI. BNP Paribas Financial Markets boosted its position in TrueBlue by 3.5% in the 4th quarter. BNP Paribas Financial Markets now owns 48,329 shares of the business services provider’s stock worth $406,000 after purchasing an additional 1,642 shares in the last quarter. State Street Corp lifted its stake in shares of TrueBlue by 0.3% in the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock valued at $5,254,000 after purchasing an additional 1,968 shares during the period. MetLife Investment Management LLC boosted its holdings in TrueBlue by 23.5% during the fourth quarter. MetLife Investment Management LLC now owns 15,886 shares of the business services provider’s stock worth $133,000 after buying an additional 3,028 shares in the last quarter. State of Wyoming grew its position in TrueBlue by 17.4% during the fourth quarter. State of Wyoming now owns 21,192 shares of the business services provider’s stock valued at $178,000 after buying an additional 3,134 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in TrueBlue by 24.7% in the fourth quarter. Wells Fargo & Company MN now owns 17,112 shares of the business services provider’s stock valued at $144,000 after buying an additional 3,393 shares in 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.