TrueBlue (NYSE:TBI) Raised to “Hold” at StockNews.com

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

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

TrueBlue Stock Up 1.5 %

Shares of TBI opened at $7.51 on Friday. The stock has a market cap of $221.94 million, a P/E ratio of -1.96, a P/E/G ratio of 3.66 and a beta of 1.42. The business’s 50 day moving average price is $7.99 and its 200-day moving average price is $7.86. TrueBlue has a 52 week low of $6.63 and a 52 week high of $13.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its holdings in TrueBlue by 28.5% in the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after acquiring an additional 239,740 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of TrueBlue by 230.1% in the third quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider’s stock worth $368,000 after purchasing an additional 32,542 shares during the last quarter. Barclays PLC raised its stake in shares of TrueBlue by 95.7% in the third quarter. Barclays PLC now owns 67,353 shares of the business services provider’s stock worth $531,000 after purchasing an additional 32,940 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of 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 buying an additional 96,072 shares during the last quarter. Finally, State Street Corp increased its holdings in TrueBlue by 0.3% in the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider’s stock worth $5,254,000 after buying an additional 1,968 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

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.