TrueBlue (NYSE:TBI) Shares Cross Above Two Hundred Day Moving Average – Should You 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 $4.67 and traded as high as $5.86. TrueBlue shares last traded at $5.79, with a volume of 291,508 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research raised shares of TrueBlue from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings cut shares of TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Finally, Robert W. Baird set a $5.50 target price on shares of TrueBlue in a research report on Thursday, February 19th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.75.

TrueBlue Stock Up 4.1%

The stock’s 50-day moving average is $4.54 and its 200-day moving average is $4.67. The stock has a market cap of $176.02 million, a P/E ratio of -3.25 and a beta of 1.61. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.

TrueBlue (NYSE:TBI) last announced its earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.04. The firm had revenue of $398.57 million during the quarter, compared to analyst estimates of $390.51 million. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%. As a group, research analysts anticipate that TrueBlue, Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TrueBlue

A number of institutional investors and hedge funds have recently bought and sold shares of TBI. State of Wyoming boosted its position in shares of TrueBlue by 601.2% during the 3rd quarter. State of Wyoming now owns 9,558 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 8,195 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of TrueBlue during the 1st quarter valued at about $41,000. Dynamic Technology Lab Private Ltd bought a new position in shares of TrueBlue during the 4th quarter valued at about $48,000. Federated Hermes Inc. bought a new position in shares of TrueBlue during the 2nd quarter valued at about $69,000. Finally, Simplex Trading LLC boosted its position in shares of TrueBlue by 56.9% during the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 3,995 shares in the last quarter. 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.