TrueBlue (NYSE:TBI) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

TrueBlue, Inc. (NYSE:TBI)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.84 and traded as high as $7.18. TrueBlue shares last traded at $6.8960, with a volume of 235,412 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TBI shares. Wall Street Zen cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Robert W. Baird set a $5.50 price target on shares of TrueBlue in a research note on Thursday, February 19th. Zacks Research raised shares of TrueBlue from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Weiss Ratings cut shares of TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TrueBlue currently has an average rating of “Hold” and an average target price of $5.75.

TrueBlue Stock Up 0.2%

The business has a fifty day simple moving average of $5.47 and a two-hundred day simple moving average of $4.86. 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 company has a market cap of $207.15 million, a PE ratio of -3.83 and a beta of 1.64.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.04. The company had revenue of $398.57 million for the quarter, compared to analyst estimates of $390.51 million. TrueBlue had a negative return on equity of 7.37% and a negative net margin of 3.25%. As a group, equities research analysts predict that TrueBlue, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBI. Dynamic Technology Lab Private Ltd purchased a new position in TrueBlue in the 1st quarter valued at $156,000. Envestnet Asset Management Inc. purchased a new position in TrueBlue in the 2nd quarter valued at $83,000. Geode Capital Management LLC lifted its holdings in TrueBlue by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after purchasing an additional 3,269 shares in the last quarter. XTX Topco Ltd lifted its holdings in TrueBlue by 11.4% in the 2nd quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 1,858 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in TrueBlue by 6.5% in the 2nd quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock valued at $288,000 after purchasing an additional 2,646 shares in the last quarter. 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.