TrueBlue (NYSE:TBI) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

TrueBlue, Inc. (NYSE:TBI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.21 and traded as high as $8.90. TrueBlue shares last traded at $8.0740, with a volume of 232,126 shares.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TBI. Weiss Ratings raised TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Zacks Research raised TrueBlue from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, TrueBlue presently has an average rating of “Hold” and an average price target of $5.75.

TrueBlue Trading Down 7.0%

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 business has a 50 day moving average of $6.62 and a 200-day moving average of $5.21. The stock has a market cap of $245.45 million, a PE ratio of -4.54 and a beta of 1.60.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share for the quarter, topping 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 company had revenue of $398.57 million during the quarter, compared to the consensus estimate of $390.51 million. On average, analysts anticipate that TrueBlue, Inc. will post -0.09 EPS for the current year.

Institutional Trading of TrueBlue

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBI. Fifth Third Bancorp acquired a new position in TrueBlue in the 1st quarter valued at about $41,000. Dynamic Technology Lab Private Ltd purchased a new position in TrueBlue in the 4th quarter valued at about $48,000. Simplex Trading LLC boosted its stake 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 worth $50,000 after purchasing an additional 3,995 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of TrueBlue during the 1st quarter worth about $53,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of TrueBlue during the fourth quarter worth about $53,000. Hedge funds and other 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.