TrueBlue (NYSE:TBI) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

TrueBlue, Inc. (NYSE:TBI)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.67 and traded as high as $5.86. TrueBlue shares last traded at $5.79, with a volume of 291,508 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on TBI. Weiss Ratings lowered shares of TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Robert W. Baird set a $5.50 price target on shares of TrueBlue in a report 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, Wall Street Zen cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One equities 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 stock. According to data from MarketBeat.com, TrueBlue has a consensus rating of “Hold” and a consensus target price of $5.75.

TrueBlue Stock Performance

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 stock has a market capitalization of $176.02 million, a PE ratio of -3.25 and a beta of 1.61. The firm’s 50-day simple moving average is $4.54 and its two-hundred day simple moving average is $4.67.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.04. The firm had revenue of $398.57 million for the quarter, compared to analysts’ expectations of $390.51 million. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%. On average, equities research analysts expect that TrueBlue, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of TrueBlue

Several institutional investors have recently made changes to their positions in TBI. Fifth Third Bancorp acquired a new stake in shares of TrueBlue during the 1st quarter valued at $41,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of TrueBlue during the 4th quarter valued at $48,000. Simplex Trading LLC boosted its stake in shares of TrueBlue by 56.9% during the 4th quarter. Simplex Trading LLC now owns 11,018 shares of the business services provider’s stock valued at $50,000 after buying an additional 3,995 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of TrueBlue during the 1st quarter valued at $53,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of TrueBlue during the 4th quarter valued at $53,000. 97.15% of the stock is currently 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.