TrueBlue (NYSE:TBI) Stock Price Crosses Above 200-Day Moving Average of $16.86


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TrueBlue, Inc. (NYSE:TBI)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.86 and traded as high as $19.86. TrueBlue shares last traded at $19.47, with a volume of 109,040 shares changing hands.

Several equities analysts have commented on the company. Northcoast Research cut TrueBlue from a “buy” rating to a “neutral” rating in a report on Monday, December 14th. BMO Capital Markets raised TrueBlue from a “market perform” rating to an “outperform” rating and upped their price target for the company from $18.00 to $24.00 in a report on Monday, November 23rd. TheStreet raised TrueBlue from a “d+” rating to a “c” rating in a report on Monday, November 23rd. Sidoti upped their price target on TrueBlue from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, October 1st. Finally, Zacks Investment Research cut TrueBlue from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $18.40.

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $19.44 and a 200-day moving average price of $16.86. The firm has a market capitalization of $690.66 million, a price-to-earnings ratio of -5.79 and a beta of 1.81.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, October 26th. The business services provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.22. TrueBlue had a positive return on equity of 7.74% and a negative net margin of 5.92%. The firm had revenue of $474.53 million during the quarter, compared to analysts’ expectations of $453.92 million. During the same period last year, the firm posted $0.76 EPS. The business’s revenue was down 25.5% on a year-over-year basis. On average, equities analysts expect that TrueBlue, Inc. will post 0.17 EPS for the current year.

In related news, Director Colleen B. Brown sold 5,000 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $17.94, for a total transaction of $89,700.00. Following the completion of the sale, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $281,568.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in TrueBlue by 202,673.8% in the 2nd quarter. FMR LLC now owns 379,187 shares of the business services provider’s stock valued at $5,790,000 after buying an additional 379,000 shares during the last quarter. Sei Investments Co. boosted its position in TrueBlue by 0.6% in the 3rd quarter. Sei Investments Co. now owns 151,659 shares of the business services provider’s stock valued at $2,319,000 after buying an additional 887 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in TrueBlue in the 3rd quarter valued at $1,328,000. Two Sigma Advisers LP boosted its position in TrueBlue by 116.8% in the 2nd quarter. Two Sigma Advisers LP now owns 116,400 shares of the business services provider’s stock valued at $1,777,000 after buying an additional 62,700 shares during the last quarter. Finally, Mackay Shields LLC bought a new position in TrueBlue in the 3rd quarter valued at $1,146,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

TrueBlue Company Profile (NYSE:TBI)

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of contingent staffing solutions for blue-collar, on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries.

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