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

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a report issued on Tuesday, Benzinga reports. They presently have a $41.00 price objective on the business services provider’s stock. Barrington Research’s price target suggests a potential upside of 10.84% from the stock’s current price.

Separately, Roth Mkm upped their target price 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 Trading Down 0.6 %

Shares of NASDAQ BBSI opened at $36.99 on Tuesday. The stock has a market capitalization of $967.92 million, a PE ratio of 20.32, a PEG ratio of 1.24 and a beta of 1.38. Barrett Business Services has a twelve month low of $21.95 and a twelve month high of $38.07. The stock has a fifty day simple moving average of $36.52 and a 200-day simple moving average of $34.15.

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

Insider Buying and Selling

In other news, CEO Gary Kramer sold 805 shares of the stock in a transaction dated Monday, August 19th. The stock was 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 approximately $9,689,085. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 35,133 shares of company stock worth $1,231,357. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 841 shares during the period. Amalgamated Bank grew its position in Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after purchasing an additional 702 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Barrett Business Services in the third quarter valued at about $60,000. Nisa Investment Advisors LLC grew its holdings in shares of Barrett Business Services by 415.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock worth $95,000 after buying an additional 2,342 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Barrett Business Services by 300.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 2,460 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Company Profile

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.