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

TrueBlue, Inc. (NYSE:TBI) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.54 and traded as high as $5.60. TrueBlue shares last traded at $5.51, with a volume of 252,587 shares.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen upgraded TrueBlue to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueBlue in a research note on Monday, December 29th. Finally, BMO Capital Markets decreased their price objective on shares of TrueBlue from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

TrueBlue Price Performance

The stock has a market capitalization of $164.97 million, a P/E ratio of -5.80, a PEG ratio of 0.78 and a beta of 1.48. The business has a fifty day simple moving average of $4.92 and a 200-day simple moving average of $5.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.01 and a current ratio of 2.01.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, November 3rd. The business services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.12. The company had revenue of $431.27 million during the quarter, compared to analyst estimates of $409.01 million. TrueBlue had a negative net margin of 1.78% and a negative return on equity of 4.42%. Sell-side analysts expect that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TBI. Boston Partners increased its holdings in shares of TrueBlue by 107.7% during the third quarter. Boston Partners now owns 1,614,404 shares of the business services provider’s stock valued at $9,895,000 after acquiring an additional 837,123 shares in the last quarter. Bailard Inc. acquired a new stake in TrueBlue in the 2nd quarter valued at $996,000. Millennium Management LLC grew its position in TrueBlue by 392.8% in the 3rd quarter. Millennium Management LLC now owns 167,641 shares of the business services provider’s stock valued at $1,028,000 after purchasing an additional 133,624 shares during the period. Bank of America Corp DE increased its stake in TrueBlue by 162.4% during the 2nd quarter. Bank of America Corp DE now owns 210,371 shares of the business services provider’s stock valued at $1,363,000 after purchasing an additional 130,201 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in TrueBlue during the second quarter worth $808,000. 97.15% of the stock is owned by institutional investors and hedge funds.

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.