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

Barrett Business Services (NASDAQ:BBSI) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Separately, Barrington Research reiterated an “outperform” rating and set a $141.00 price target on shares of Barrett Business Services in a research report on Thursday, May 2nd.

Barrett Business Services Trading Up 1.6 %

Barrett Business Services stock opened at $125.93 on Friday. The stock’s 50 day moving average is $122.21 and its 200-day moving average is $114.11. The company has a market capitalization of $823.83 million, a price-to-earnings ratio of 17.27, a PEG ratio of 1.11 and a beta of 1.37. Barrett Business Services has a 12 month low of $78.79 and a 12 month high of $130.00.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.29. The firm had revenue of $265.78 million during the quarter, compared to the consensus estimate of $1.88 billion. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, equities research analysts predict that Barrett Business Services will post 7.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Barrett Business Services

Several large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. increased its stake in shares of Barrett Business Services by 121.5% in the first quarter. Assenagon Asset Management S.A. now owns 45,879 shares of the business services provider’s stock valued at $5,814,000 after buying an additional 25,165 shares during the period. Wellington Management Group LLP lifted its position in shares of Barrett Business Services by 10.8% in the 4th quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock worth $22,454,000 after purchasing an additional 18,897 shares during the period. FMR LLC boosted its stake in shares of Barrett Business Services by 4.3% in the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock valued at $28,459,000 after purchasing an additional 12,997 shares during the last quarter. Willner & Heller LLC bought a new stake in Barrett Business Services during the fourth quarter valued at $1,121,000. Finally, Quadrature Capital Ltd acquired a new stake in Barrett Business Services during the fourth quarter worth approximately $693,000. 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.