ValuEngine upgraded shares of Barrett Business Services (NASDAQ:BBSI) from a sell rating to a hold rating in a research note published on Wednesday, ValuEngine reports.
Other research analysts have also issued reports about the company. Barrington Research reissued a buy rating and issued a $62.00 price objective on shares of Barrett Business Services in a research report on Tuesday. Sidoti lifted their target price on Barrett Business Services from $77.00 to $82.00 and gave the stock a buy rating in a report on Tuesday, June 23rd. TheStreet cut Barrett Business Services from a b- rating to a c+ rating in a report on Monday, March 16th. BidaskClub upgraded shares of Barrett Business Services from a sell rating to a hold rating in a research note on Thursday, June 25th. Finally, Zacks Investment Research upgraded shares of Barrett Business Services from a sell rating to a hold rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $88.75.
Barrett Business Services stock opened at $53.13 on Wednesday. The firm has a market cap of $384.62 million, a price-to-earnings ratio of 8.35, a PEG ratio of 1.33 and a beta of 1.57. Barrett Business Services has a 52-week low of $27.25 and a 52-week high of $95.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50 day moving average price of $50.94 and a two-hundred day moving average price of $60.18.
Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.16). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.46 billion. Barrett Business Services had a return on equity of 29.92% and a net margin of 5.00%. As a group, equities research analysts predict that Barrett Business Services will post 3.2 EPS for the current fiscal year.
In other news, Director Thomas J. Carley sold 1,000 shares of Barrett Business Services stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $41.50, for a total transaction of $41,500.00. Following the completion of the transaction, the director now directly owns 21,489 shares in the company, valued at $891,793.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Carley sold 1,500 shares of Barrett Business Services stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $41.25, for a total transaction of $61,875.00. Following the transaction, the director now owns 21,489 shares of the company’s stock, valued at $886,421.25. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
Several institutional investors have recently modified their holdings of BBSI. Great West Life Assurance Co. Can bought a new position in shares of Barrett Business Services in the fourth quarter valued at approximately $46,000. Point72 Hong Kong Ltd raised its position in Barrett Business Services by 549.0% in the 4th quarter. Point72 Hong Kong Ltd now owns 675 shares of the business services provider’s stock valued at $61,000 after buying an additional 571 shares during the last quarter. First Quadrant L P CA bought a new position in Barrett Business Services during the 1st quarter valued at $29,000. TRUE Private Wealth Advisors boosted its holdings in Barrett Business Services by 1,234.6% during the 2nd quarter. TRUE Private Wealth Advisors now owns 1,081 shares of the business services provider’s stock worth $57,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Barrett Business Services by 36.3% in the fourth quarter. Bank of Montreal Can now owns 1,126 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 300 shares during the last quarter. 79.54% of the stock is owned by hedge funds and other institutional investors.
Barrett Business Services Company Profile
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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