TrueBlue (NYSE:TBI) Downgraded to Sell Rating by Wall Street Zen

TrueBlue (NYSE:TBI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

TBI has been the subject of several other reports. BMO Capital Markets lowered their price objective on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Robert W. Baird set a $5.50 target price on TrueBlue in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TrueBlue in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.75.

TrueBlue Trading Down 5.5%

NYSE TBI opened at $3.70 on Friday. The company has a market cap of $111.07 million, a P/E ratio of -2.31, a P/E/G ratio of 0.57 and a beta of 1.49. TrueBlue has a 12 month low of $3.45 and a 12 month high of $7.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.15 and a quick ratio of 2.01. The company has a 50-day moving average of $4.87 and a 200-day moving average of $5.33.

TrueBlue (NYSE:TBI) last released its earnings results on Wednesday, February 18th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.17). TrueBlue had a negative return on equity of 6.87% and a negative net margin of 2.97%.The company had revenue of $418.18 million during the quarter, compared to analyst estimates of $413.31 million. As a group, equities analysts predict that TrueBlue will post 0.15 earnings per share for the current year.

Institutional Trading of TrueBlue

Large investors have recently added to or reduced their stakes in the stock. Boston Partners lifted its stake in shares of TrueBlue by 107.7% during the third quarter. Boston Partners now owns 1,614,404 shares of the business services provider’s stock worth $9,895,000 after purchasing an additional 837,123 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of TrueBlue by 32.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider’s stock valued at $9,156,000 after buying an additional 492,984 shares in the last quarter. Prosight Management LP grew its stake in shares of TrueBlue by 456.8% in the fourth quarter. Prosight Management LP now owns 442,554 shares of the business services provider’s stock valued at $2,014,000 after buying an additional 363,078 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of TrueBlue by 80.8% during the 4th quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock valued at $2,986,000 after buying an additional 293,363 shares during the period. Finally, Invenomic Capital Management LP lifted its position in TrueBlue by 60.5% during the 4th quarter. Invenomic Capital Management LP now owns 442,225 shares of the business services provider’s stock worth $2,012,000 after acquiring an additional 166,660 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

About TrueBlue

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.