Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in TrueBlue, Inc. (NYSE:TBI)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in TrueBlue, Inc. (NYSE:TBI) by 18.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,347 shares of the business services provider’s stock after selling 2,136 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TrueBlue were worth $143,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in shares of TrueBlue during the 4th quarter worth $239,000. Azarias Capital Management L.P. purchased a new position in shares of TrueBlue in the 4th quarter worth about $4,582,000. Assenagon Asset Management S.A. increased its position in shares of TrueBlue by 209.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 305,693 shares of the business services provider’s stock valued at $4,689,000 after purchasing an additional 206,757 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of TrueBlue by 12.8% during the 4th quarter. SG Americas Securities LLC now owns 19,931 shares of the business services provider’s stock valued at $306,000 after buying an additional 2,268 shares in the last quarter. Finally, First Hawaiian Bank lifted its position in TrueBlue by 36.0% in the 4th quarter. First Hawaiian Bank now owns 35,174 shares of the business services provider’s stock worth $540,000 after buying an additional 9,314 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TBI. BMO Capital Markets reduced their price target on shares of TrueBlue from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their target price on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday.

TrueBlue Price Performance

Shares of TBI stock opened at $10.55 on Thursday. The business has a 50-day moving average of $11.38 and a 200 day moving average of $12.86. The stock has a market capitalization of $331.00 million, a PE ratio of -23.43 and a beta of 1.51. TrueBlue, Inc. has a 1-year low of $10.15 and a 1-year high of $19.06.

TrueBlue (NYSE:TBI) last issued its earnings results on Monday, May 6th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.46. The firm had revenue of $403.00 million for the quarter, compared to analysts’ expectations of $400.24 million. TrueBlue had a negative net margin of 0.74% and a positive return on equity of 2.39%. The business’s revenue was down 13.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) earnings per share. Analysts anticipate that TrueBlue, Inc. will post -0.51 EPS for the current year.

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.