TrueBlue (NYSE:TBI) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

TrueBlue, Inc. (NYSE:TBI)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.64 and traded as high as $6.05. TrueBlue shares last traded at $5.5680, with a volume of 844,451 shares.

Wall Street Analyst Weigh In

TBI has been the topic of a number of research analyst reports. Weiss Ratings downgraded TrueBlue from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Zacks Research raised TrueBlue from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Wall Street Zen downgraded TrueBlue from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Robert W. Baird set a $5.50 target price on TrueBlue in a report on Thursday, February 19th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.75.

TrueBlue Stock Performance

The stock has a fifty day moving average price of $4.34 and a two-hundred day moving average price of $4.64. The company has a market cap of $169.27 million, a P/E ratio of -3.13 and a beta of 1.61. 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) last released its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.04. The company had revenue of $398.57 million for the quarter, compared to analysts’ expectations of $390.51 million. TrueBlue had a negative return on equity of 7.37% and a negative net margin of 3.25%. On average, equities analysts forecast that TrueBlue, Inc. will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TrueBlue news, CEO Taryn R. Owen purchased 20,400 shares of TrueBlue stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $3.79 per share, for a total transaction of $77,316.00. Following the transaction, the chief executive officer owned 791,807 shares of the company’s stock, valued at $3,000,948.53. The trade was a 2.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Carl Schweihs purchased 12,500 shares of TrueBlue stock in a transaction on Monday, February 23rd. The shares were acquired at an average price of $3.72 per share, with a total value of $46,500.00. Following the transaction, the chief financial officer directly owned 289,069 shares in the company, valued at $1,075,336.68. This trade represents a 4.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TBI. Boston Partners boosted its position in TrueBlue by 107.7% during the 3rd quarter. Boston Partners now owns 1,614,404 shares of the business services provider’s stock worth $9,895,000 after acquiring an additional 837,123 shares during the period. Charles Schwab Investment Management Inc. boosted its position in TrueBlue by 32.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider’s stock worth $9,156,000 after acquiring an additional 492,984 shares during the period. Prosight Management LP boosted its position in TrueBlue by 456.8% during the 4th quarter. Prosight Management LP now owns 442,554 shares of the business services provider’s stock worth $2,014,000 after acquiring an additional 363,078 shares during the period. Russell Investments Group Ltd. boosted its position in TrueBlue by 80.8% during the 4th quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock worth $2,986,000 after acquiring an additional 293,363 shares during the period. Finally, Invenomic Capital Management LP boosted its position in TrueBlue by 60.5% during the 4th quarter. Invenomic Capital Management LP now owns 442,225 shares of the business services provider’s stock worth $2,012,000 after acquiring an additional 166,660 shares during the period. Institutional investors and hedge funds own 97.15% of the company’s stock.

TrueBlue Company Profile

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.