TrueBlue (NYSE:TBI) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

TrueBlue, Inc. (NYSE:TBI)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.96 and traded as high as $7.16. TrueBlue shares last traded at $6.9940, with a volume of 340,303 shares traded.

Analyst Upgrades and Downgrades

TBI has been the topic of several recent research reports. Wall Street Zen upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Zacks Research upgraded shares of TrueBlue from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Weiss Ratings downgraded TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.75.

TrueBlue Trading Up 0.1%

The company’s fifty day moving average price is $5.94 and its two-hundred day moving average price is $4.96. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.29. The company has a market cap of $212.62 million, a price-to-earnings ratio of -3.93 and a beta of 1.64.

TrueBlue (NYSE:TBI) last announced its earnings results on Tuesday, May 5th. The business services provider reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.04. The business had revenue of $398.57 million for 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%. Research analysts expect that TrueBlue, Inc. will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On TrueBlue

Institutional investors and hedge funds have recently bought and sold shares of the business. Boston Partners grew its holdings in shares of TrueBlue by 37.6% during the fourth quarter. Boston Partners now owns 2,220,850 shares of the business services provider’s stock worth $10,106,000 after purchasing an additional 606,446 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of TrueBlue by 32.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider’s stock valued at $9,156,000 after buying an additional 492,984 shares in the last quarter. Azarias Capital Management L.P. raised its holdings in shares of TrueBlue by 1.3% in the first quarter. Azarias Capital Management L.P. now owns 1,001,950 shares of the business services provider’s stock valued at $3,918,000 after buying an additional 13,070 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of TrueBlue by 0.5% in the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after buying an additional 3,269 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of TrueBlue by 80.8% in the fourth quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock valued at $2,986,000 after buying an additional 293,363 shares during the last quarter. Institutional investors and hedge funds 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.