Barrett Business Services’ (BBSI) Outperform Rating Reiterated at Barrington Research

Barrington Research restated their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a research note published on Tuesday, Benzinga reports. Barrington Research currently has a $41.00 price objective on the business services provider’s stock.

Separately, Roth Mkm increased their price target on shares of Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

Barrett Business Services Stock Performance

Shares of NASDAQ:BBSI opened at $36.19 on Tuesday. The firm has a market capitalization of $945.93 million, a P/E ratio of 19.88, a P/E/G ratio of 1.24 and a beta of 1.38. The stock has a 50 day moving average price of $36.56 and a 200-day moving average price of $34.17. Barrett Business Services has a 52-week low of $21.95 and a 52-week high of $38.07.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The business had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Barrett Business Services will post 1.99 EPS for the current fiscal year.

Insider Activity

In related news, CEO Gary Kramer sold 805 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $35.00, for a total value of $28,175.00. Following the transaction, the chief executive officer now owns 276,831 shares in the company, valued at $9,689,085. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 35,133 shares of company stock worth $1,231,357 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Barrett Business Services

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Barrett Business Services by 29.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the business services provider’s stock valued at $1,645,000 after purchasing an additional 2,945 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Barrett Business Services by 10.3% during the 1st quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock valued at $692,000 after buying an additional 509 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Barrett Business Services by 0.3% during the 1st quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock valued at $3,811,000 after buying an additional 100 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Barrett Business Services by 8.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 42,470 shares of the business services provider’s stock valued at $5,382,000 after buying an additional 3,400 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Barrett Business Services by 74.4% during the 1st quarter. Quadrature Capital Ltd now owns 10,435 shares of the business services provider’s stock valued at $1,318,000 after acquiring an additional 4,450 shares during the period. Hedge funds and other institutional investors 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.