TrueBlue (NYSE:TBI) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of TrueBlue, Inc. (NYSE:TBI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.64 and traded as high as $6.05. TrueBlue shares last traded at $5.5680, with a volume of 844,451 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen lowered TrueBlue from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Robert W. Baird set a $5.50 price objective on TrueBlue in a research report on Thursday, February 19th. Zacks Research upgraded TrueBlue from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Weiss Ratings lowered TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.75.

TrueBlue Stock Performance

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 stock has a market cap of $165.83 million, a P/E ratio of -3.06 and a beta of 1.61. The stock has a fifty day simple moving average of $4.39 and a 200-day simple moving average of $4.65.

TrueBlue (NYSE:TBI) last issued its earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $398.57 million for the quarter, compared to analysts’ expectations of $390.51 million. Equities analysts expect that TrueBlue, Inc. will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Taryn R. Owen purchased 20,400 shares of TrueBlue stock in a transaction dated Tuesday, February 24th. The shares were bought at an average cost of $3.79 per share, with a total value of $77,316.00. Following the completion of the transaction, the chief executive officer directly owned 791,807 shares in the company, valued at $3,000,948.53. This trade represents a 2.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Carl Schweihs purchased 12,500 shares of TrueBlue stock in a transaction dated Monday, February 23rd. The shares were purchased at an average cost of $3.72 per share, for a total transaction of $46,500.00. Following the completion of the transaction, the chief financial officer owned 289,069 shares of the company’s stock, valued at approximately $1,075,336.68. This represents a 4.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On TrueBlue

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp bought a new stake in TrueBlue in the 1st quarter valued at approximately $41,000. Dynamic Technology Lab Private Ltd bought a new stake in TrueBlue in the 4th quarter valued at approximately $48,000. Simplex Trading LLC lifted its stake in TrueBlue by 56.9% in the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 3,995 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in TrueBlue in the 4th quarter valued at approximately $53,000. Finally, Jain Global LLC bought a new stake in TrueBlue in the 4th quarter valued at approximately $58,000. 97.15% of the stock is owned by institutional investors.

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.