TrueBlue (NYSE:TBI) Shares Cross Above 200-Day Moving Average – Here’s What Happened

TrueBlue, Inc. (NYSE:TBI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Analysts Set New Price Targets

TBI has been the subject of several research analyst reports. StockNews.com downgraded TrueBlue from a “hold” rating to a “sell” rating in a research report on Thursday. BMO Capital Markets cut their target price on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th.

TrueBlue Stock Down 4.5 %

The firm has a market cap of $217.15 million, a PE ratio of -1.91, a price-to-earnings-growth ratio of 3.66 and a beta of 1.42. The stock has a 50 day moving average price of $8.06 and a two-hundred day moving average price of $8.04.

Institutional Investors Weigh In On TrueBlue

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in TrueBlue in the third quarter valued at approximately $79,000. SG Americas Securities LLC acquired a new position in TrueBlue in the fourth quarter valued at approximately $108,000. Proficio Capital Partners LLC acquired a new position in shares of TrueBlue during the 4th quarter worth approximately $116,000. Quantinno Capital Management LP acquired a new position in shares of TrueBlue during the 3rd quarter worth approximately $149,000. Finally, Algert Global LLC acquired a new position in shares of TrueBlue during the 2nd quarter worth approximately $208,000. 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.