TrueBlue (NYSE:TBI) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

TrueBlue, Inc. (NYSE:TBI)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.76 and traded as high as $9.40. TrueBlue shares last traded at $9.22, with a volume of 306,881 shares changing hands.

Wall Street Analyst Weigh In

TBI has been the topic of several analyst reports. Weiss Ratings raised TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. Robert W. Baird set a $9.50 price target on shares of TrueBlue in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One investment 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. According to data from MarketBeat, TrueBlue presently has an average rating of “Hold” and a consensus target price of $7.75.

TrueBlue Stock Down 1.2%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a 50 day simple moving average of $9.31 and a two-hundred day simple moving average of $6.80. The stock has a market cap of $298.92 million, a P/E ratio of -5.22, a P/E/G ratio of 10.96 and a beta of 1.67.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%.The company had revenue of $443.00 million for the quarter, compared to analyst estimates of $417.84 million. Equities research analysts predict that TrueBlue, Inc. will post 0.06 earnings per share for the current year.

Institutional Trading of TrueBlue

A number of institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC bought a new position in shares of TrueBlue in the second quarter valued at approximately $21,543,000. BlackRock Inc. acquired a new stake in TrueBlue in the second quarter worth approximately $15,550,000. Azarias Capital Management L.P. boosted its stake in TrueBlue by 1.3% during the 1st 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 purchasing an additional 13,070 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of TrueBlue during the 2nd quarter valued at $2,225,000. Finally, Manatuck Hill Partners LLC bought a new stake in shares of TrueBlue in the 2nd quarter worth $1,115,000. 97.15% of the stock is owned by institutional investors and hedge funds.

TrueBlue Company Profile

TrueBlue, Inc is a workforce solutions company that connects businesses with workers and provides staffing, recruiting and workforce management services. The company serves organizations across a range of industries, including manufacturing, logistics, construction, hospitality, retail and healthcare.

TrueBlue operates through brands that have included PeopleReady, which provides industrial and skilled staffing; PeopleManagement, which delivers on-site workforce management and contingent labor solutions; and PeopleScout, which provides recruitment process outsourcing and talent acquisition services.