TrueBlue (NYSE:TBI) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of TrueBlue, Inc. (NYSE:TBI) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $6.99 and traded as high as $9.60. TrueBlue shares last traded at $9.3180, with a volume of 225,843 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TBI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueBlue in a research report on Tuesday. Wall Street Zen raised shares of TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird set a $9.50 target price on shares of TrueBlue in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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 firm has a market cap of $287.66 million, a price-to-earnings ratio of -5.03, a P/E/G ratio of 11.10 and a beta of 1.67. The firm has a fifty day simple moving average of $9.45 and a two-hundred day simple moving average of $7.03.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.16. The firm had revenue of $443.00 million for the quarter, compared to the consensus estimate of $417.84 million. TrueBlue had a negative net margin of 3.35% and a negative return on equity of 6.26%. On average, analysts expect that TrueBlue, Inc. will post 0.06 EPS for the current year.

Institutional Investors Weigh In On TrueBlue

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC acquired a new position in shares of TrueBlue in the 2nd quarter valued at $21,543,000. BlackRock Inc. purchased a new stake in TrueBlue during the 2nd quarter valued at about $15,550,000. Azarias Capital Management L.P. increased its holdings in shares of TrueBlue by 1.3% in the first quarter. Azarias Capital Management L.P. now owns 1,001,950 shares of the business services provider’s stock valued at $3,918,000 after purchasing an additional 13,070 shares during the period. Bank of America Corp DE acquired a new position in shares of TrueBlue in the second quarter valued at about $2,225,000. Finally, Manatuck Hill Partners LLC purchased a new position in shares of TrueBlue in the second quarter worth about $1,115,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

TrueBlue Company Profile

TrueBlue, Inc is a workforce solutions company that connects businesses with workers and provides staffing, recruiting and workforce management services. The company serves organizations across a range of industries, including manufacturing, logistics, construction, hospitality, retail and healthcare.

TrueBlue operates through brands that have included PeopleReady, which provides industrial and skilled staffing; PeopleManagement, which delivers on-site workforce management and contingent labor solutions; and PeopleScout, which provides recruitment process outsourcing and talent acquisition services.