TrueBlue (NYSE:TBI) Stock Price Passes Above 200-Day Moving Average - What's Next?

TrueBlue, Inc. (NYSE:TBI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.42 and traded as high as $6.96. TrueBlue shares last traded at $6.78, with a volume of 159,779 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of TrueBlue from a "sell" rating to a "hold" rating in a research report on Sunday, March 2nd.

TrueBlue Price Performance

The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.19. The business's 50-day simple moving average is $5.21 and its 200 day simple moving average is $6.42. The firm has a market capitalization of $202.45 million, a P/E ratio of -1.48 and a beta of 1.52.

TrueBlue (NYSE:TBI - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $370.25 million for the quarter, compared to the consensus estimate of $362.37 million. TrueBlue had a negative net margin of 9.02% and a negative return on equity of 8.25%. Sell-side analysts forecast that TrueBlue, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On TrueBlue

A number of hedge funds and other institutional investors have recently bought and sold shares of TBI. Pzena Investment Management LLC increased its holdings in TrueBlue by 1.7% in the 1st quarter. Pzena Investment Management LLC now owns 2,835,167 shares of the business services provider's stock worth $15,055,000 after buying an additional 46,539 shares in the last quarter. Invesco Ltd. grew its holdings in TrueBlue by 2.3% during the first quarter. Invesco Ltd. now owns 2,080,030 shares of the business services provider's stock valued at $11,045,000 after purchasing an additional 47,089 shares during the period. Royce & Associates LP increased its holdings in TrueBlue by 23.5% in the 1st quarter. Royce & Associates LP now owns 1,880,732 shares of the business services provider's stock worth $9,987,000 after acquiring an additional 357,539 shares in the last quarter. Nuveen LLC purchased a new stake in shares of TrueBlue in the first quarter worth $3,907,000. Finally, Geode Capital Management LLC raised its holdings in TrueBlue by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 678,393 shares of the business services provider's stock valued at $5,700,000 after acquiring an additional 4,499 shares during the period. Hedge funds and other institutional investors own 97.15% of the company's stock.

TrueBlue Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.