TrueBlue (NYSE:TBI) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• TrueBlue shares crossed above their 200-day moving average, trading at $6.47 after reaching a high of $6.54, indicating potential upward momentum in the stock's performance.
• BMO Capital Markets raised TrueBlue's price target from $7.00 to $8.00, maintaining an "outperform" rating, highlighting positive sentiment from analysts.
• The company reported a loss of ($0.07) per share for the last quarter, exceeding analyst expectations, despite a revenue shortfall compared to estimates.

TrueBlue, Inc. (NYSE:TBI - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.81 and traded as high as $6.54. TrueBlue shares last traded at $6.47, with a volume of 155,841 shares.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lifted their price target on shares of TrueBlue from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, TrueBlue has an average rating of "Buy" and a consensus price target of $8.00.

TrueBlue Trading Up 4.9%

The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $193.45 million, a P/E ratio of -5.63 and a beta of 1.54. The firm's 50 day simple moving average is $6.29 and its two-hundred day simple moving average is $5.81.

TrueBlue (NYSE:TBI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The business services provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.24. TrueBlue had a negative net margin of 2.21% and a negative return on equity of 5.74%. The firm had revenue of $396.30 million during the quarter, compared to the consensus estimate of $400.52 million. TrueBlue has set its Q3 2025 guidance at EPS. As a group, analysts forecast that TrueBlue, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Peapod Lane Capital LLC acquired a new position in shares of TrueBlue during the first quarter valued at about $1,385,000. GSA Capital Partners LLP grew its holdings in shares of TrueBlue by 527.3% during the first quarter. GSA Capital Partners LLP now owns 287,625 shares of the business services provider's stock valued at $1,527,000 after buying an additional 241,777 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of TrueBlue by 46.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 613,852 shares of the business services provider's stock valued at $3,260,000 after buying an additional 194,155 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of TrueBlue by 143.0% during the fourth quarter. Bank of America Corp DE now owns 77,327 shares of the business services provider's stock valued at $650,000 after buying an additional 45,509 shares during the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of TrueBlue by 1.7% during the first quarter. Pzena Investment Management LLC now owns 2,835,167 shares of the business services provider's stock valued at $15,055,000 after buying an additional 46,539 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

About TrueBlue

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.

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