TrueBlue (NYSE:TBI) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

TrueBlue, Inc. (NYSE:TBI)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.57 and traded as high as $8.59. TrueBlue shares last traded at $8.5560, with a volume of 169,358 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TBI. Weiss Ratings reissued a “sell (d-)” rating on shares of TrueBlue in a research note on Tuesday, September 29th. Wall Street Zen upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird set a $9.50 price objective on TrueBlue in a research report on Wednesday, August 5th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.75.

TrueBlue Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market cap of $284.25 million, a price-to-earnings ratio of -4.97, a P/E/G ratio of 10.20 and a beta of 1.72. The business’s 50-day moving average price is $9.49 and its two-hundred day moving average price is $7.60.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in shares of TrueBlue in the first quarter valued at approximately $41,000. Ieq Capital LLC acquired a new position in shares of TrueBlue during the second quarter worth approximately $78,000. Glenmede Trust Co. NA bought a new position in TrueBlue in the 1st quarter worth approximately $53,000. Hsbc Holdings PLC bought a new position in TrueBlue in the 2nd quarter worth approximately $105,000. Finally, Deutsche Bank AG bought a new position in TrueBlue in the 2nd quarter worth approximately $195,000. Institutional investors own 97.15% of the company’s stock.

TrueBlue Company Profile

TrueBlue, Inc (NYSE:TBI) is a workforce solutions company that connects businesses with employees and provides staffing, recruiting and workforce management services. Its offerings support employers seeking temporary, contingent and permanent workers across a range of industries, including manufacturing, logistics, retail, hospitality, construction and other commercial sectors.

The company operates through several specialized brands. PeopleReady provides industrial and general labor staffing, while PeopleManagement offers on-site workforce management and contingent labor solutions.