TrueBlue (NYSE:TBI) Share Price Crosses Above 200-Day Moving Average – What’s Next?

TrueBlue, Inc. (NYSE:TBI) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.75 and traded as high as $6.92. TrueBlue shares last traded at $6.61, with a volume of 177,121 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on TBI. Weiss Ratings upgraded shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Wall Street Zen cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of TrueBlue from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Robert W. Baird set a $5.50 price target on shares of TrueBlue in a research note on Thursday, February 19th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.75.

TrueBlue Stock Performance

The firm has a market cap of $200.94 million, a PE ratio of -3.71 and a beta of 1.64. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. The firm’s 50 day simple moving average is $5.00 and its 200 day simple moving average is $4.75.

TrueBlue (NYSE:TBI) last announced its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.04. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%. The business had revenue of $398.57 million for the quarter, compared to analysts’ expectations of $390.51 million. On average, research analysts forecast that TrueBlue, Inc. will post -0.09 EPS for the current fiscal year.

Institutional Trading of TrueBlue

Large investors have recently made changes to their positions in the business. State of Wyoming increased its holdings in shares of TrueBlue by 601.2% in the 3rd quarter. State of Wyoming now owns 9,558 shares of the business services provider’s stock worth $59,000 after buying an additional 8,195 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of TrueBlue in the 1st quarter worth about $41,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of TrueBlue in the 4th quarter worth about $48,000. Federated Hermes Inc. bought a new stake in shares of TrueBlue in the 2nd quarter worth about $69,000. Finally, Simplex Trading LLC increased its holdings in shares of TrueBlue by 56.9% in the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock worth $50,000 after buying an additional 3,995 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors.

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.