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

Shares of TrueBlue, Inc. (NYSE:TBI - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.07 and traded as high as $8.22. TrueBlue shares last traded at $7.69, with a volume of 66,700 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TBI shares. BMO Capital Markets lowered their target price on shares of TrueBlue from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. StockNews.com lowered shares of TrueBlue from a "hold" rating to a "sell" rating in a report on Thursday.

TrueBlue Stock Performance

The company's fifty day moving average is $8.06 and its two-hundred day moving average is $8.07. The company has a market cap of $227.32 million, a price-to-earnings ratio of -2.00, a P/E/G ratio of 3.88 and a beta of 1.42.

TrueBlue (NYSE:TBI - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The business had revenue of $382.36 million for the quarter, compared to analysts' expectations of $386.07 million. During the same quarter last year, the company earned $0.16 EPS. The business's revenue was down 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that TrueBlue, Inc. will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueBlue

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its position in shares of TrueBlue by 28.5% during the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider's stock valued at $8,538,000 after acquiring an additional 239,740 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of TrueBlue by 230.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,687 shares of the business services provider's stock valued at $368,000 after acquiring an additional 32,542 shares during the last quarter. Barclays PLC boosted its position in shares of TrueBlue by 95.7% during the 3rd quarter. Barclays PLC now owns 67,353 shares of the business services provider's stock valued at $531,000 after acquiring an additional 32,940 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of TrueBlue by 33.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider's stock valued at $3,049,000 after acquiring an additional 96,072 shares during the last quarter. Finally, State Street Corp boosted its position in shares of TrueBlue by 0.3% during the 3rd quarter. State Street Corp now owns 665,901 shares of the business services provider's stock valued at $5,254,000 after acquiring an additional 1,968 shares during the last quarter. 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.

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.