Zacks Investment Research Upgrades Barrett Business Services (BBSI) to Hold

Barrett Business Services (NASDAQ:BBSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “BARRETT BUSINESS SERVICES INC. provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. The Company provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors. “

BBSI has been the subject of a number of other research reports. BidaskClub upgraded Barrett Business Services from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 19th. Roth Capital restated a “buy” rating and issued a $105.00 price target on shares of Barrett Business Services in a report on Wednesday, March 7th. Finally, ValuEngine upgraded Barrett Business Services from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $100.00.

Barrett Business Services opened at $95.70 on Tuesday, according to Marketbeat. The stock has a market capitalization of $702.01 million, a P/E ratio of 28.74 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.05. Barrett Business Services has a 12 month low of $44.52 and a 12 month high of $97.86.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Tuesday, May 1st. The business services provider reported ($1.25) EPS for the quarter, beating analysts’ consensus estimates of ($1.81) by $0.56. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.36 billion. Barrett Business Services had a return on equity of 34.88% and a net margin of 2.92%. equities research analysts predict that Barrett Business Services will post 4.46 EPS for the current year.

In other Barrett Business Services news, Director James B. Hicks sold 1,878 shares of the stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $83.58, for a total value of $156,963.24. Following the completion of the sale, the director now directly owns 13,098 shares in the company, valued at $1,094,730.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James B. Hicks sold 3,878 shares of the stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $84.94, for a total value of $329,397.32. Following the completion of the sale, the director now owns 13,098 shares of the company’s stock, valued at $1,112,544.12. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of BBSI. SG Americas Securities LLC bought a new position in shares of Barrett Business Services during the fourth quarter worth about $158,000. Wedge Capital Management L L P NC bought a new position in shares of Barrett Business Services during the first quarter worth about $210,000. Principal Financial Group Inc. bought a new position in shares of Barrett Business Services during the first quarter worth about $226,000. Barings LLC bought a new position in shares of Barrett Business Services during the first quarter worth about $240,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Barrett Business Services during the fourth quarter worth about $249,000. Institutional investors and hedge funds own 79.19% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.

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