Barrett Business Services (NASDAQ:BBSI) Receives “Outperform” Rating from Barrington Research

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating reaffirmed by stock analysts at Barrington Research in a research note issued to investors on Thursday, Benzinga reports. They presently have a $141.00 price target on the business services provider’s stock. Barrington Research’s price objective would suggest a potential upside of 18.01% from the stock’s previous close.

Barrett Business Services Trading Down 2.4 %

NASDAQ BBSI traded down $2.95 during trading hours on Thursday, reaching $119.48. 30,715 shares of the company traded hands, compared to its average volume of 29,983. The company has a 50 day moving average of $121.36 and a two-hundred day moving average of $112.94. Barrett Business Services has a 12 month low of $76.22 and a 12 month high of $130.00. The stock has a market capitalization of $781.40 million, a PE ratio of 16.04, a PEG ratio of 1.12 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.29. Barrett Business Services had a net margin of 4.73% and a return on equity of 27.69%. The company had revenue of $265.78 million for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm posted $0.12 EPS. On average, equities research analysts anticipate that Barrett Business Services will post 7.78 earnings per share for the current year.

Hedge Funds Weigh In On Barrett Business Services

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new position in Barrett Business Services during the 4th quarter valued at about $2,399,000. FMR LLC increased its stake in Barrett Business Services by 4.3% during the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock valued at $28,459,000 after buying an additional 12,997 shares during the period. Barclays PLC increased its stake in Barrett Business Services by 34.0% during the 3rd quarter. Barclays PLC now owns 6,362 shares of the business services provider’s stock valued at $573,000 after buying an additional 1,614 shares during the period. Equitable Trust Co. increased its stake in Barrett Business Services by 10.1% during the 4th quarter. Equitable Trust Co. now owns 10,010 shares of the business services provider’s stock valued at $1,159,000 after buying an additional 920 shares during the period. Finally, Gladius Capital Management LP increased its stake in Barrett Business Services by 82.2% during the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock valued at $178,000 after buying an additional 889 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Barrett Business Services

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