Barrett Business Services (NASDAQ:BBSI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Barrett Business Services (NASDAQ:BBSI – Get Rating) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating on the business services provider’s stock.

Separately, Barrington Research boosted their price objective on Barrett Business Services from $102.00 to $104.00 in a research note on Friday, March 3rd. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $100.50.

Barrett Business Services Price Performance

Shares of NASDAQ BBSI opened at $85.52 on Thursday. The business’s 50 day moving average is $94.98 and its two-hundred day moving average is $90.53. Barrett Business Services has a 1-year low of $65.93 and a 1-year high of $100.85. The stock has a market capitalization of $588.04 million, a P/E ratio of 12.94, a PEG ratio of 0.89 and a beta of 1.34.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Continental Investors Services Inc. purchased a new stake in shares of Barrett Business Services in the third quarter valued at approximately $7,361,000. Cullen Capital Management LLC boosted its holdings in shares of Barrett Business Services by 5.2% in the third quarter. Cullen Capital Management LLC now owns 14,263 shares of the business services provider’s stock valued at $1,113,000 after purchasing an additional 702 shares during the period. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Barrett Business Services in the second quarter valued at approximately $255,000. Unison Advisors LLC boosted its holdings in shares of Barrett Business Services by 32.0% in the third quarter. Unison Advisors LLC now owns 8,111 shares of the business services provider’s stock valued at $632,000 after purchasing an additional 1,968 shares during the period. Finally, Ellsworth Advisors LLC purchased a new stake in Barrett Business Services during the third quarter worth $366,000. Hedge funds and other 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 a 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 employers, and staffing and recruiting services.