TrueBlue (NYSE:TBI) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of TrueBlue, Inc. (NYSE:TBI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.06 and traded as high as $10.75. TrueBlue shares last traded at $10.73, with a volume of 97,256 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TBI shares. Robert W. Baird set a $9.50 price target on shares of TrueBlue in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.75.

TrueBlue Stock Up 1.8%

The firm has a 50-day simple moving average of $8.44 and a 200 day simple moving average of $6.09. The stock has a market capitalization of $323.70 million, a P/E ratio of -5.66, a P/E/G ratio of 12.79 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.16. The company had revenue of $443.00 million during the quarter, compared to the consensus estimate of $417.84 million. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%. On average, equities research analysts forecast that TrueBlue, Inc. will post 0.06 EPS for the current year.

Hedge Funds Weigh In On TrueBlue

Large investors have recently modified their holdings of the business. Fifth Third Bancorp acquired a new stake in TrueBlue in the first quarter valued at $41,000. Dynamic Technology Lab Private Ltd acquired a new position in TrueBlue during the 4th quarter worth about $48,000. Federated Hermes Inc. bought a new stake in shares of TrueBlue in the 2nd quarter valued at about $69,000. Simplex Trading LLC grew its position 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 valued at $50,000 after buying an additional 3,995 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of TrueBlue in the second quarter valued at about $78,000. Institutional investors own 97.15% of the company’s stock.

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.