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

TrueBlue, Inc. (NYSE:TBI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.37 and traded as high as $8.23. TrueBlue shares last traded at $7.6040, with a volume of 235,609 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Zacks Research upgraded TrueBlue from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.75.

TrueBlue Trading Down 8.9%

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 has a 50-day moving average of $6.93 and a 200 day moving average of $5.37. The company has a market cap of $231.16 million, a P/E ratio of -4.27 and a beta of 1.60.

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

Institutional Trading of TrueBlue

Hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in TrueBlue in the first quarter worth $156,000. Envestnet Asset Management Inc. acquired a new position in shares of TrueBlue during the second quarter valued at about $83,000. Geode Capital Management LLC boosted its position in shares of TrueBlue by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock worth $4,490,000 after purchasing an additional 3,269 shares in the last quarter. XTX Topco Ltd boosted its position in shares of TrueBlue by 11.4% during the 2nd quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider’s stock worth $117,000 after purchasing an additional 1,858 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of TrueBlue by 6.5% in the 2nd quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock valued at $288,000 after buying an additional 2,646 shares during the period. 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.