TrueBlue (NYSE:TBI) Shares Pass Above 200-Day Moving Average - Here's What Happened

TrueBlue, Inc. (NYSE:TBI - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.28 and traded as high as $6.69. TrueBlue shares last traded at $6.65, with a volume of 60,429 shares trading hands.

TrueBlue Stock Performance

The stock's 50 day moving average price is $5.81 and its 200 day moving average price is $6.28. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.19. The company has a market cap of $198.57 million, a price-to-earnings ratio of -1.45 and a beta of 1.53.

TrueBlue (NYSE:TBI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The business services provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.17). TrueBlue had a negative net margin of 9.02% and a negative return on equity of 8.25%. The company had revenue of $370.25 million for the quarter, compared to analyst estimates of $362.37 million. On average, analysts expect that TrueBlue, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of TrueBlue

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its position in TrueBlue by 143.0% during the 4th quarter. Bank of America Corp DE now owns 77,327 shares of the business services provider's stock worth $650,000 after purchasing an additional 45,509 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in TrueBlue during the 4th quarter worth approximately $478,000. Invesco Ltd. increased its position in TrueBlue by 1.4% during the 4th quarter. Invesco Ltd. now owns 2,032,941 shares of the business services provider's stock worth $17,077,000 after purchasing an additional 27,515 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in TrueBlue in the 4th quarter worth approximately $978,000. Finally, Barclays PLC boosted its holdings in TrueBlue by 33.6% in the 4th quarter. Barclays PLC now owns 89,992 shares of the business services provider's stock worth $756,000 after acquiring an additional 22,639 shares during the period. Institutional investors and hedge funds own 97.15% of the company's stock.

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.