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

Key Points

• TrueBlue shares rose above their 200-day moving average, reaching $10.75 and last trading at $10.73 versus the average of $6.06.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating; the consensus is Hold with a $7.75 price target, below the current share price.
• The company beat quarterly expectations, reporting $0.06 EPS versus a projected loss of $0.10 and revenue of $443 million against estimates of $417.84 million, though profitability metrics remained weak.

TrueBlue, Inc. (NYSE:TBI - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.06 and traded as high as $10.75. TrueBlue shares last traded at $10.73, with a volume of 97,256 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on TBI. Wall Street Zen raised shares of TrueBlue from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Robert W. Baird set a $9.50 price target on shares of TrueBlue in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of TrueBlue from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 2nd. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.75.

TrueBlue Stock Performance

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 company has a fifty day moving average price of $8.36 and a 200 day moving average price of $6.06. The stock has a market cap of $326.62 million, a P/E ratio of -5.71, a P/E/G ratio of 12.70 and a beta of 1.60.

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 company had revenue of $443.00 million for the quarter, compared to analysts' expectations of $417.84 million. On average, equities analysts expect that TrueBlue, Inc. will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. 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 worth $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. raised its position in TrueBlue by 21.3% in the fourth quarter. Federated Hermes Inc. now owns 17,685 shares of the business services provider's stock worth $80,000 after acquiring an additional 3,111 shares during the period. Geode Capital Management LLC raised its position in TrueBlue by 0.5% in 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 during the period. Finally, Pacific Ridge Capital Partners LLC raised its position in TrueBlue by 4.6% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 74,456 shares of the business services provider's stock worth $339,000 after acquiring an additional 3,270 shares during the period. 97.15% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source