StockNews.com Downgrades Barrett Business Services (NASDAQ:BBSI) to Buy

StockNews.com downgraded shares of Barrett Business Services (NASDAQ:BBSI – Get Rating) from a strong-buy rating to a buy rating in a report released on Monday.

Barrett Business Services Stock Performance

Shares of NASDAQ:BBSI opened at $96.63 on Monday. The business has a 50-day simple moving average of $95.85 and a two-hundred day simple moving average of $90.01. The firm has a market cap of $672.54 million, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. Barrett Business Services has a fifty-two week low of $58.19 and a fifty-two week high of $100.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dorsey Wright & Associates purchased a new stake in Barrett Business Services during the 4th quarter valued at $29,000. Great West Life Assurance Co. Can purchased a new stake in Barrett Business Services during the third quarter valued at $36,000. Tower Research Capital LLC TRC lifted its holdings in Barrett Business Services by 54.1% in the third quarter. Tower Research Capital LLC TRC now owns 467 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 164 shares during the period. US Bancorp DE boosted its position in Barrett Business Services by 735.5% in the third quarter. US Bancorp DE now owns 518 shares of the business services provider’s stock worth $40,000 after purchasing an additional 456 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Barrett Business Services by 25.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 584 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 120 shares during the period. Institutional investors own 86.40% of the company’s stock.

About Barrett Business Services

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Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It focuses on professional employer, and staffing and recruiting services.