TrueBlue (NYSE:TBI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of TrueBlue (NYSE:TBI) to a hold rating in a research report released on Saturday.

A number of other brokerages have also commented on TBI. BMO Capital Markets dropped their price target on TrueBlue from $8.00 to $6.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

TrueBlue Trading Up 4.7%

Shares of TrueBlue stock opened at $5.26 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.01 and a current ratio of 2.01. TrueBlue has a 52 week low of $3.45 and a 52 week high of $8.55. The stock has a 50 day moving average price of $4.83 and a two-hundred day moving average price of $5.64. The stock has a market capitalization of $157.33 million, a PE ratio of -5.53, a price-to-earnings-growth ratio of 0.77 and a beta of 1.47.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, November 3rd. The business services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.12. The firm had revenue of $431.27 million for the quarter, compared to the consensus estimate of $409.01 million. TrueBlue had a negative net margin of 1.78% and a negative return on equity of 4.42%. As a group, equities analysts anticipate that TrueBlue will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its position in shares of TrueBlue by 392.8% in the third quarter. Millennium Management LLC now owns 167,641 shares of the business services provider’s stock valued at $1,028,000 after acquiring an additional 133,624 shares during the period. Bank of America Corp DE raised its holdings in TrueBlue by 38.8% in the 3rd quarter. Bank of America Corp DE now owns 292,032 shares of the business services provider’s stock worth $1,790,000 after purchasing an additional 81,661 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of TrueBlue by 154.7% in the 3rd quarter. Two Sigma Investments LP now owns 135,663 shares of the business services provider’s stock worth $832,000 after purchasing an additional 82,389 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of TrueBlue by 14.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 97,100 shares of the business services provider’s stock valued at $595,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Prosight Management LP bought a new position in TrueBlue in the third quarter worth about $487,000. 97.15% of the stock is owned by institutional investors.

TrueBlue Company Profile

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.