TrueBlue Stock Has Clear Skies Ahead After Hitting a New 2-Year High

• TrueBlue (TBI) is a leading workforce solutions provider, recently achieving strong technical momentum and a 2-year high of $10.73.
• TBI has gained 80% over the past year.
• Revenue is forecast to grow 8.10% this year and 3.33% next year, but analyst opinions are mixed, with some seeing overvaluation.
• TBI is well-positioned to meet employer demands in a challenging job skill environment, although volatility and speculative risks remain elevated.

Today’s Featured Stock

Valued at $311 million, TrueBlue (TBI) is a leading provider of specialized workforce solutions, helping clients improve growth and performance by providing staffing, workforce management, and recruitment process outsourcing solutions. The company’s specialized workforce solutions meet clients’ needs for a reliable, efficient workforce in a wide variety of industries. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. TBI checks those boxes. The Trend Seeker issued a new “Buy” signal on Aug. 6. Since then, the stock has gained 0.01%.

Barchart’s Technical Indicators for TrueBlue

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

TrueBlue scored a 2-year high of $10.65 on Aug. 10.

• TrueBlue has a Weighted Alpha of 57.55.
• TBI has a 100% “Buy” opinion from Barchart.
• The stock has gained 78.62% over the past 52 weeks.
• TrueBlue has its Trend Seeker “Buy” signal intact.
• The stock recently traded at $10.13 with a 50-day moving average of $7.64.
• TBI has made 6 new highs and gained 23.90% over the past month.
• 60-month beta of 1.60.
• Relative Strength Index (RSI) is at 68.48.
• There’s a technical support level around $10.29.

Don’t Forget the Fundamentals

• $311 million market capitalization.
• Revenue is predicted to grow 8.10% this year and another 3.33% next year.

Analyst and Investor Sentiment on TrueBlue

• The Wall Street analysts followed by Barchart give the stock 1 “Strong Buy” and 2 “Hold” opinions with price targets between $9.50 and $10.00.
• Value Line rates the stock “Above Average.”
• CFRA’s MarketScope rates the stock a “Sell.”
• Morningstar thinks the stock is 34% overvalued with a fair value of $7.59.
• 1,690 investors are following the stock on Seeking Alpha, which rates it a “Hold.”
• Short interest is 2.91% of the float with 2.67 days to cover the float.

The Bottom Line on TrueBlue

TrueBlue is in the right position to match employers with qualified candidates in what is sure to be a very challenging job skill era.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.

On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.