TrueBlue (NYSE:TBI) Share Price Breaks Above 200-Day Moving Average – Time to Sell?

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 $7.33 and traded as high as $8.90. TrueBlue shares last traded at $8.7750, with a volume of 214,386 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TBI. Robert W. Baird set a $9.50 price objective on TrueBlue in a research report on Wednesday, August 5th. Wall Street Zen upgraded TrueBlue from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TrueBlue in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.75.

TrueBlue Stock Performance

The business’s fifty day moving average price is $9.72 and its two-hundred day moving average price is $7.37. 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 stock has a market capitalization of $268.18 million, a P/E ratio of -4.69, a P/E/G ratio of 10.49 and a beta of 1.72.

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

Institutional Trading of TrueBlue

A number of large investors have recently made changes to their positions in TBI. Fifth Third Bancorp acquired a new position in shares of TrueBlue during the first quarter worth approximately $41,000. Ieq Capital LLC acquired a new position in TrueBlue during the 2nd quarter valued at about $78,000. Azarias Capital Management L.P. boosted its stake in shares of TrueBlue by 1.3% in 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 during the last quarter. Glenmede Trust Co. NA bought a new stake in shares of TrueBlue during the first quarter worth approximately $53,000. Finally, Hsbc Holdings PLC bought a new position in TrueBlue in the second quarter valued at approximately $105,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

About TrueBlue

TrueBlue, Inc (NYSE:TBI) is a workforce solutions provider that connects businesses with workers and helps organizations manage their staffing and talent needs. The company serves a range of industries, including manufacturing, construction, logistics, hospitality, retail and healthcare.

TrueBlue operates through brands that provide temporary and contingent staffing, workforce management and recruitment process outsourcing services. Its PeopleReady business supplies flexible labor for industrial and other hourly roles, while PeopleScout provides talent acquisition services, including recruitment process outsourcing and workforce consulting.

The company was founded in 1989 as Labor Ready and adopted the TrueBlue name in 2007.