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

TrueBlue, Inc. (NYSE:TBI) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.52 and traded as high as $9.26. TrueBlue shares last traded at $8.7250, with a volume of 298,634 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TBI. Robert W. Baird set a $9.50 price target on TrueBlue in a report on Wednesday, August 5th. Weiss Ratings raised TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.75.

TrueBlue Stock Down 3.7%

The business’s fifty day simple moving average is $9.17 and its 200 day simple moving average is $6.52. The stock has a market cap of $265.59 million, a price-to-earnings ratio of -4.64, a price-to-earnings-growth ratio of 10.42 and a beta of 1.67. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.32.

TrueBlue (NYSE:TBI) last posted its quarterly earnings results 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 return on equity of 6.26% and a negative net margin of 3.35%.The company had revenue of $443.00 million for the quarter, compared to the consensus estimate of $417.84 million. Equities analysts forecast that TrueBlue, Inc. will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TrueBlue

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its holdings in shares of 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 buying an additional 1,858 shares during the last quarter. Hsbc Holdings PLC increased its holdings in TrueBlue by 6.5% during the second quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock worth $288,000 after buying an additional 2,646 shares during the last quarter. Federated Hermes Inc. increased its holdings in TrueBlue by 21.3% during the fourth quarter. Federated Hermes Inc. now owns 17,685 shares of the business services provider’s stock worth $80,000 after buying an additional 3,111 shares during the last quarter. Geode Capital Management LLC raised its position in TrueBlue by 0.5% during the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock worth $4,490,000 after acquiring an additional 3,269 shares in the last quarter. Finally, Walleye Capital LLC raised its position in TrueBlue by 7.6% during the second quarter. Walleye Capital LLC now owns 52,783 shares of the business services provider’s stock worth $342,000 after acquiring an additional 3,718 shares in the last quarter. Institutional investors and hedge funds 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.