Shares of TrueBlue, Inc. (NYSE:TBI – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.06 and traded as high as $8.35. TrueBlue shares last traded at $7.9980, with a volume of 369,016 shares.
Analyst Upgrades and Downgrades
TBI has been the topic of a number of research analyst reports. Weiss Ratings upgraded TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research upgraded shares of TrueBlue from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.75.
Check Out Our Latest Stock Report on TBI
TrueBlue Price Performance
TrueBlue (NYSE:TBI – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.04. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%. The business had revenue of $398.57 million during the quarter, compared to the consensus estimate of $390.51 million. As a group, research analysts anticipate that TrueBlue, Inc. will post -0.09 EPS for the current year.
Institutional Investors Weigh In On TrueBlue
A number of institutional investors and hedge funds have recently made changes to their positions in TBI. Dynamic Technology Lab Private Ltd acquired a new position in TrueBlue during the 1st quarter valued at about $156,000. Envestnet Asset Management Inc. purchased a new stake in shares of TrueBlue in the second quarter worth approximately $83,000. Geode Capital Management LLC lifted its holdings in shares of TrueBlue by 0.5% in the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after purchasing an additional 3,269 shares in the last quarter. XTX Topco Ltd boosted its position in shares of TrueBlue by 11.4% during the second quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider’s stock valued at $117,000 after buying an additional 1,858 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of TrueBlue by 6.5% during the second quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock valued at $288,000 after buying an additional 2,646 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.
About TrueBlue
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.
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