TrueBlue (NYSE:TBI) Stock Passes Above 200 Day Moving Average – Here’s Why

TrueBlue, Inc. (NYSE:TBI)’s stock price passed 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 changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TBI shares. Wall Street Zen downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Zacks Research raised 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 target price on shares of TrueBlue in a research note on Thursday, February 19th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $5.75.

TrueBlue Stock Down 3.6%

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 stock’s 50-day simple moving average is $5.00 and its 200-day simple moving average is $4.75. The firm has a market capitalization of $200.94 million, a P/E ratio of -3.71 and a beta of 1.64.

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

Institutional Investors Weigh In On TrueBlue

A number of hedge funds and other institutional investors have recently bought and sold shares of TBI. Fifth Third Bancorp purchased a new position in shares of TrueBlue during the 1st quarter valued at $41,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of TrueBlue during the 4th quarter valued at $48,000. Simplex Trading LLC grew 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. Glenmede Trust Co. NA purchased a new position in shares of TrueBlue during the 1st quarter valued at $53,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of TrueBlue during the 4th quarter valued at $53,000. Institutional investors own 97.15% of the company’s stock.

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.