TrueBlue (NYSE:TBI) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• TrueBlue shares rose 3.2% and traded above their 200-day moving average of $7.57, reaching $8.59 before closing near $8.56.
• Analyst sentiment remains mixed, with ratings split among Buy, Hold, and Sell; the stock carries an overall “Hold” rating and an average price target of $7.75.
• TrueBlue exceeded quarterly expectations, reporting $0.06 EPS versus a $0.10 loss estimate and revenue of $443 million versus $417.84 million expected. Institutional investors own 97.15% of the company.

TrueBlue, Inc. (NYSE:TBI - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on TBI. Weiss Ratings reiterated a "sell (d-)" rating on shares of TrueBlue in a research report on Tuesday, September 29th. Wall Street Zen raised shares of TrueBlue from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Robert W. Baird set a $9.50 target price on shares of TrueBlue in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $7.75.

TrueBlue Stock Up 3.2%

The firm has a 50 day simple moving average of $9.51 and a two-hundred day simple moving average of $7.57. 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 stock has a market cap of $260.44 million, a price-to-earnings ratio of -4.55, a price-to-earnings-growth ratio of 9.87 and a beta of 1.72.

TrueBlue (NYSE:TBI - Get Free Report) last issued its earnings results on Tuesday, August 4th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.16. The firm had revenue of $443.00 million for the quarter, compared to analysts' expectations 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 expect that TrueBlue, Inc. will post 0.06 EPS for the current year.

Institutional Investors Weigh In On TrueBlue

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

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.

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