Barrett Business Services (BBSI) Now Covered by Sidoti

Sidoti initiated coverage on shares of Barrett Business Services (NASDAQ:BBSI) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $95.00 price objective on the business services provider’s stock.

A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of Barrett Business Services from a hold rating to a sell rating in a research report on Saturday, September 15th. Zacks Investment Research lowered shares of Barrett Business Services from a hold rating to a sell rating in a research report on Friday, August 10th. Finally, ValuEngine lowered shares of Barrett Business Services from a hold rating to a sell rating in a research report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $97.50.

NASDAQ BBSI opened at $61.99 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. The company has a market cap of $491.50 million, a P/E ratio of 18.62 and a beta of 0.66. Barrett Business Services has a 1 year low of $56.10 and a 1 year high of $98.76.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.26). Barrett Business Services had a return on equity of 33.22% and a net margin of 2.91%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.42 billion. Equities analysts expect that Barrett Business Services will post 4.27 EPS for the current year.

In other Barrett Business Services news, Director Anthony Meeker sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $66.88, for a total value of $66,880.00. Following the sale, the director now owns 11,894 shares in the company, valued at $795,470.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of Barrett Business Services by 38.9% during the first quarter. Wells Fargo & Company MN now owns 40,770 shares of the business services provider’s stock worth $3,379,000 after purchasing an additional 11,412 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Barrett Business Services by 17.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 79,998 shares of the business services provider’s stock worth $6,631,000 after purchasing an additional 11,743 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Barrett Business Services by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 275,756 shares of the business services provider’s stock worth $22,855,000 after purchasing an additional 2,839 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Barrett Business Services by 934.9% during the first quarter. Russell Investments Group Ltd. now owns 62,714 shares of the business services provider’s stock worth $5,195,000 after purchasing an additional 56,654 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Barrett Business Services during the first quarter worth $226,000. Hedge funds and other institutional investors own 81.19% of the company’s stock.

Barrett Business Services Company Profile

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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