TrueBlue (NYSE:TBI) Price Target Cut to $10.00 by Analysts at BMO Capital Markets

TrueBlue (NYSE:TBI) had its target price trimmed by BMO Capital Markets from $11.00 to $10.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Separately, StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th.

TrueBlue Price Performance

NYSE TBI opened at $8.08 on Tuesday. The company’s fifty day moving average is $7.63 and its two-hundred day moving average is $9.30. TrueBlue has a 52-week low of $6.97 and a 52-week high of $16.14. The firm has a market capitalization of $247.01 million, a price-to-earnings ratio of -2.10 and a beta of 1.49.

TrueBlue (NYSE:TBI) last released its earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $382.36 million for the quarter, compared to the consensus estimate of $386.07 million. TrueBlue had a negative return on equity of 2.55% and a negative net margin of 6.97%. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. As a group, sell-side analysts expect that TrueBlue will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of TrueBlue

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of TrueBlue by 23.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 38,146 shares of the business services provider’s stock valued at $478,000 after acquiring an additional 7,327 shares during the period. BNP Paribas Financial Markets lifted its holdings in TrueBlue by 41.8% during the 1st quarter. BNP Paribas Financial Markets now owns 82,337 shares of the business services provider’s stock valued at $1,031,000 after purchasing an additional 24,286 shares during the last quarter. Quantbot Technologies LP boosted its position in TrueBlue by 181.3% in the first quarter. Quantbot Technologies LP now owns 41,987 shares of the business services provider’s stock valued at $526,000 after buying an additional 27,060 shares in the last quarter. Empowered Funds LLC grew its stake in TrueBlue by 8.2% during the first quarter. Empowered Funds LLC now owns 113,348 shares of the business services provider’s stock worth $1,419,000 after buying an additional 8,565 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of TrueBlue during the first quarter worth approximately $192,000. Institutional investors and hedge funds 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.