TrueBlue (NYSE:TBI) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• TrueBlue shares crossed above their 200-day moving average, reaching $8.90 and last trading at $8.775, compared with a 200-day average of $7.33. However, the stock remained below its 50-day average of $9.70 and was down 1.1%.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating. The consensus is Hold, with an average price target of $7.75—below the recent trading price—while Robert W. Baird set a $9.50 target.
• TrueBlue exceeded quarterly expectations, reporting $0.06 EPS versus the $0.10-per-share loss analysts expected and revenue of $443 million versus a $417.84 million consensus. Institutional investors own a substantial 97.15% of the company.

TrueBlue, Inc. (NYSE:TBI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-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 traded.

Wall Street Analysts Forecast Growth

TBI has been the subject of several research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TrueBlue in a research note on Tuesday, September 29th. Wall Street Zen raised shares of TrueBlue from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Robert W. Baird set a $9.50 target price on TrueBlue in a report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $7.75.

TrueBlue Trading Down 1.1%

The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $9.70 and a 200-day simple moving average of $7.33. The company has a market capitalization of $267.15 million, a PE ratio of -4.67, a PEG ratio of 10.56 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. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%. The business had revenue of $443.00 million during the quarter, compared to the consensus estimate of $417.84 million. Analysts predict that TrueBlue, Inc. will post 0.06 EPS for the current year.

Institutional Investors Weigh In On TrueBlue

A number of hedge funds have recently modified their holdings of TBI. Fifth Third Bancorp purchased a new position in TrueBlue during the first quarter worth about $41,000. Ieq Capital LLC acquired a new position in TrueBlue in the 2nd quarter valued at about $78,000. Azarias Capital Management L.P. grew 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 buying an additional 13,070 shares during the period. Glenmede Trust Co. NA purchased a new stake in shares of TrueBlue in the 1st quarter valued at approximately $53,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of TrueBlue in the 2nd quarter valued at approximately $105,000. Hedge funds and other 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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