TrueBlue (NYSE:TBI) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• TrueBlue shares moved above their 200-day moving average, trading as high as $8.23 before last changing hands at $7.6040. The 200-day average was $5.37, signaling a notable technical breakout.
• Analysts remain cautious overall, with MarketBeat showing a consensus rating of “Hold” and a target price of $5.75. Recent ratings changes were mixed, including upgrades from sell to hold by Wall Street Zen and Zacks Research.
• The company beat quarterly expectations, reporting an EPS loss of $0.41 versus the expected $0.45 loss and revenue of $398.57 million above estimates. Despite the beat, TrueBlue still posted negative margins and analysts expect a full-year EPS loss.

Shares of TrueBlue, Inc. (NYSE:TBI - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.37 and traded as high as $8.23. TrueBlue shares last traded at $7.6040, with a volume of 235,609 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TBI shares. Wall Street Zen raised shares of TrueBlue from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings upgraded TrueBlue from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 2nd. Finally, Zacks Research raised TrueBlue from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. One equities research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $5.75.

TrueBlue Stock Performance

The stock's 50-day moving average price is $6.93 and its 200 day moving average price is $5.37. The firm has a market cap of $231.16 million, a P/E ratio of -4.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.09 and a quick ratio of 2.09.

TrueBlue (NYSE:TBI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.04. The firm had revenue of $398.57 million for the quarter, compared to analyst estimates of $390.51 million. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%. As a group, equities analysts predict that TrueBlue, Inc. will post -0.09 EPS for the current year.

Institutional Investors Weigh In On TrueBlue

Several hedge funds have recently bought and sold shares of TBI. Boston Partners lifted its position in shares of TrueBlue by 37.6% in the fourth quarter. Boston Partners now owns 2,220,850 shares of the business services provider's stock valued at $10,106,000 after buying an additional 606,446 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of TrueBlue by 32.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider's stock valued at $9,156,000 after acquiring an additional 492,984 shares in the last quarter. Azarias Capital Management L.P. grew its position in shares of TrueBlue by 1.3% during the 1st quarter. Azarias Capital Management L.P. now owns 1,001,950 shares of the business services provider's stock worth $3,918,000 after purchasing an additional 13,070 shares in the last quarter. Geode Capital Management LLC increased its stake in TrueBlue by 0.5% during the 2nd 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, Russell Investments Group Ltd. raised its stake in TrueBlue by 80.8% in the fourth quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider's stock valued at $2,986,000 after purchasing an additional 293,363 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

About TrueBlue

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.

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