TrueBlue (NYSE:TBI) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

TrueBlue, Inc. (NYSE:TBI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.54 and traded as high as $5.60. TrueBlue shares last traded at $5.51, with a volume of 252,587 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TBI shares. Wall Street Zen upgraded shares of TrueBlue to a “hold” rating in a report on Saturday, January 17th. BMO Capital Markets lowered their price objective on TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.00.

TrueBlue Trading Up 2.8%

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.01 and a quick ratio of 2.01. The firm’s fifty day moving average is $4.92 and its two-hundred day moving average is $5.54. The firm has a market capitalization of $164.97 million, a PE ratio of -5.80, a PEG ratio of 0.78 and a beta of 1.48.

TrueBlue (NYSE:TBI) last posted its earnings results on Monday, November 3rd. The business services provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.12. TrueBlue had a negative net margin of 1.78% and a negative return on equity of 4.42%. The firm had revenue of $431.27 million for the quarter, compared to analysts’ expectations of $409.01 million. On average, equities analysts predict that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of TrueBlue

A number of hedge funds have recently bought and sold shares of TBI. Pzena Investment Management LLC grew its stake in TrueBlue by 3.0% in the 2nd quarter. Pzena Investment Management LLC now owns 2,919,252 shares of the business services provider’s stock valued at $18,917,000 after purchasing an additional 84,085 shares during the period. Boston Partners raised its stake in shares of TrueBlue by 107.7% during the 3rd 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 during the period. Azarias Capital Management L.P. boosted its holdings in shares of TrueBlue by 0.5% in the 4th quarter. Azarias Capital Management L.P. now owns 988,880 shares of the business services provider’s stock worth $4,499,000 after buying an additional 5,169 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of TrueBlue by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock worth $4,490,000 after buying an additional 3,269 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in TrueBlue by 35.3% during the second quarter. Prudential Financial Inc. now owns 430,329 shares of the business services provider’s stock valued at $2,789,000 after buying an additional 112,187 shares during the period. 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.